Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up – Time to Buy?

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped up before the market opened on Thursday . The stock had previously closed at $55.46, but opened at $60.51. Grupo Financiero Banorte SAB de CV shares last traded at $60.51, with a volume of 613 shares changing hands.

Wall Street Analyst Weigh In

Separately, Zacks Research cut shares of Grupo Financiero Banorte SAB de CV from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Grupo Financiero Banorte SAB de CV Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 0.23 and a quick ratio of 0.23. The business has a 50 day moving average price of $56.21 and a 200 day moving average price of $51.04. The stock has a market capitalization of $31.51 billion, a PE ratio of 10.31, a PEG ratio of 1.06 and a beta of 0.79.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. The firm had revenue of $2.30 billion during the quarter. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%. As a group, equities research analysts expect that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share 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.