Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Lowered to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded Grupo Financiero Banorte (OTCMKTS:GBOOY) from "strong‑buy" to "hold" in a note to investors.
• Despite the downgrade, shares rose about 4.5% and trade near $55.46 with a market cap of $31.2 billion and a PE ratio of 10.21, within a 52‑week range of $32.00–$62.89.
• The company posted a quarterly EPS of $1.54, beating estimates of $1.35 on $2.30 billion of revenue, with ROE of 22.2% and analysts forecasting full‑year EPS of 4.84.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Grupo Financiero Banorte SAB de CV Stock Up 4.5%

Shares of GBOOY opened at $55.46 on Monday. The firm has a market cap of $31.20 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 1.01 and a beta of 0.81. The company's fifty day moving average is $56.05 and its two-hundred day moving average is $50.92. Grupo Financiero Banorte SAB de CV has a fifty-two week low of $32.00 and a fifty-two week high of $62.89. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.41.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.19. The business had revenue of $2.30 billion during the quarter. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%. Analysts forecast that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current 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.

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