Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Issues Earnings Results, Beats Expectations By $0.01 EPS

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) posted its quarterly earnings data on Tuesday. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.01, Zacks reports. Grupo Financiero Banorte SAB de CV had a return on equity of 22.08% and a net margin of 14.23%.

Grupo Financiero Banorte SAB de CV Stock Up 3.9%

Shares of OTCMKTS:GBOOY traded up $1.99 during midday trading on Tuesday, hitting $53.64. 30,267 shares of the company’s stock traded hands, compared to its average volume of 58,895. The firm’s fifty day moving average price is $53.46 and its two-hundred day moving average price is $54.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 0.79. Grupo Financiero Banorte SAB de CV has a twelve month low of $41.70 and a twelve month high of $62.89. The company has a market cap of $30.18 billion, a PE ratio of 9.46, a P/E/G ratio of 0.97 and a beta of 0.71.

Analysts Set New Price Targets

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

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.