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

Key Points

• Grupo Financiero Banorte reported Q EPS of $1.56, missing consensus of $1.68 by $0.12, while posting a return on equity of 22.20% and a net margin of 13.50%.
• Shares fell about 2.2% to $56.60 on the day; the company has a market cap of $31.85 billion, a P/E of 10.42, and 50-/200-day moving averages of $56.01 / $51.64.
• Zacks downgraded Banorte from a Strong Buy to a Hold, and the stock’s consensus rating on MarketBeat is currently Hold.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) posted its earnings results on Tuesday. The company reported $1.56 earnings per share for the quarter, missing analysts' consensus estimates of $1.68 by ($0.12), Zacks reports. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%.

Grupo Financiero Banorte SAB de CV Stock Down 2.2%

Grupo Financiero Banorte SAB de CV stock traded down $1.29 during mid-day trading on Tuesday, reaching $56.60. 57,404 shares of the company were exchanged, compared to its average volume of 60,141. The business has a fifty day moving average of $56.01 and a 200 day moving average of $51.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $31.85 billion, a P/E ratio of 10.42, a PEG ratio of 1.07 and a beta of 0.79. Grupo Financiero Banorte SAB de CV has a 12-month low of $38.50 and a 12-month high of $62.89.

Analysts Set New Price Targets

Separately, Zacks Research lowered 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, the company presently has an average 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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