Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Announces Quarterly Earnings Results

Key Points

• Grupo Financiero Banorte reported quarterly EPS of $1.61, beating analysts’ consensus estimate of $1.52 by $0.09.
• Shares fell 2.1% in Tuesday midday trading to $56.02.
• Zacks Research downgraded the stock from “hold” to “strong sell”; MarketBeat reports an overall “Sell” rating.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.09, Zacks reports. Grupo Financiero Banorte SAB de CV had a return on equity of 22.30% and a net margin of 14.97%.

Grupo Financiero Banorte SAB de CV Trading Down 2.1%

Shares of OTCMKTS:GBOOY traded down $1.19 during midday trading on Tuesday, reaching $56.02. The company's stock had a trading volume of 36,701 shares, compared to its average volume of 54,007. The firm has a market capitalization of $31.52 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.33 and a beta of 0.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a 50 day moving average price of $55.66 and a two-hundred day moving average price of $55.25. Grupo Financiero Banorte SAB de CV has a fifty-two week low of $45.00 and a fifty-two week high of $63.81.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded Grupo Financiero Banorte SAB de CV from a "hold" rating to a "strong sell" rating in a research report on Monday, October 19th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, Grupo Financiero Banorte SAB de CV presently has an average rating of "Sell".

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte, SAB. de C.V. is a Mexico-based financial services holding company and the parent organization of Grupo Financiero Banorte. Through its subsidiaries, the group provides banking, insurance, retirement savings, investment, brokerage and other financial services to individuals, small and medium-sized businesses, corporations and government entities.

Its principal banking subsidiary, Banco Mercantil del Norte, operates under the Banorte brand and offers deposit accounts, consumer and commercial loans, mortgages, credit cards, payment services, investment products and digital banking.

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