Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

Grupo Financiero Banorte SAB de CV Trading Up 1.6%

Shares of GBOOY opened at $56.38 on Monday. Grupo Financiero Banorte SAB de CV has a 1-year low of $32.00 and a 1-year high of $62.89. The company has a market capitalization of $31.72 billion, a P/E ratio of 10.38, a P/E/G ratio of 1.05 and a beta of 0.79. 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 firm’s 50 day simple moving average is $56.11 and its 200 day simple moving average is $50.96.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its quarterly earnings results on Tuesday, January 27th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. The business had revenue of $2.30 billion during the quarter. Grupo Financiero Banorte SAB de CV had a net margin of 13.50% and a return on equity of 22.20%. Sell-side analysts forecast that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current fiscal year.

Grupo Financiero Banorte SAB de CV Company Profile

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.