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

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped down before the market opened on Thursday . The stock had previously closed at $57.77, but opened at $54.28. Grupo Financiero Banorte SAB de CV shares last traded at $54.0650, with a volume of 18,300 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research downgraded 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 equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Grupo Financiero Banorte SAB de CV currently has a consensus rating of “Hold”.

Grupo Financiero Banorte SAB de CV Stock Performance

The business’s fifty day moving average price is $55.34 and its 200-day moving average price is $53.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $30.43 billion, a PE ratio of 9.54, a P/E/G ratio of 1.05 and a beta of 0.71.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Grupo Financiero Banorte SAB de CV had a net margin of 14.23% and a return on equity of 22.08%. As a group, equities research analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.47 EPS for the current fiscal 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.