Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up on Analyst Upgrade

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s share price gapped up before the market opened on Friday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $58.23, but opened at $60.4675. Grupo Financiero Banorte SAB de CV shares last traded at $58.05, with a volume of 1,759 shares changing hands.

Grupo Financiero Banorte SAB de CV Stock Performance

The company has a market cap of $31.69 billion, a PE ratio of 10.37, a PEG ratio of 1.63 and a beta of 0.83. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $49.33 and its two-hundred day moving average is $47.63.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%.The business had revenue of $2.30 billion for the quarter. On average, equities research analysts anticipate that Grupo Financiero Banorte SAB de CV will post 4.84 EPS for the current year.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte SAB de CV, commonly known as Banorte, is a major Mexican financial services holding company headquartered in Monterrey, Mexico. The group operates a universal banking franchise that serves retail, small and medium-sized enterprises, and large corporate clients across Mexico. Banorte provides a broad suite of banking services through an extensive branch network and digital channels and maintains an international investor presence, including ADRs that trade on the U.S. OTC market under the symbol GBOOY.

Banorte’s core businesses include retail and commercial banking—offering deposit accounts, payment and cash management services, consumer and mortgage loans, credit and debit cards, and lending to corporate clients.