Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Down – Here’s Why

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped down before the market opened on Thursday . The stock had previously closed at $57.95, but opened at $55.70. Grupo Financiero Banorte SAB de CV shares last traded at $58.81, with a volume of 16,062 shares traded.

Grupo Financiero Banorte SAB de CV Stock Up 1.4%

The business’s 50 day moving average price is $55.10 and its 200-day moving average price is $55.06. The firm has a market capitalization of $33.05 billion, a PE ratio of 9.90, a P/E/G ratio of 1.25 and a beta of 0.70. 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 (OTCMKTS:GBOOY) last posted its earnings results on Tuesday, July 21st. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.01. Grupo Financiero Banorte SAB de CV had a return on equity of 22.25% and a net margin of 14.97%.The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. As a group, equities research analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.46 earnings per share for the current 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.