Grupo Financiero Banorte SAB de CV (GBOOY) Projected to Announce Quarterly Earnings on Wednesday

Key Points

• Grupo Financiero Banorte is expected to report quarterly earnings on Wednesday, July 22, with analysts forecasting $1.58 per share in earnings and $2.2819 billion in revenue.
• The bank's previous quarter showed a miss on EPS at $1.56 versus $1.63 expected, though revenue came in above estimates at $2.56 billion versus $2.39 billion.
• Banorte currently has a Hold consensus rating, and Zacks Research recently downgraded the stock from Strong Buy to Hold.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) will likely be releasing its resultson Wednesday, July 22nd. Analysts expect the company to post earnings of $1.58 per share and revenue of $2.2819 billion for the quarter.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.07). Grupo Financiero Banorte SAB de CV had a return on equity of 22.08% and a net margin of 14.23%.The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.39 billion. On average, analysts expect Grupo Financiero Banorte SAB de CV to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Grupo Financiero Banorte SAB de CV Price Performance

GBOOY opened at $53.48 on Wednesday. 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 capitalization of $30.09 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 0.97 and a beta of 0.71. The stock's 50 day moving average price is $53.79 and its 200-day moving average price is $54.27. Grupo Financiero Banorte SAB de CV has a 52-week low of $41.70 and a 52-week high of $62.89.

Analysts Set New Price Targets

Separately, Zacks Research cut 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 investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".

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.

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