Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Down - Should You Sell?

Key Points

• Banorte shares gapped down at the open, falling from a prior close of $51.69 to $50.25 before later trading at $52.16 on modest volume.
• Zacks Research downgraded Grupo Financiero Banorte from strong-buy to hold, matching the stock’s current average analyst rating of Hold.
• The company’s latest earnings missed EPS estimates, reporting $1.56 per share versus $1.63 expected, though revenue came in above forecasts at $2.56 billion.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $51.69, but opened at $50.25. Grupo Financiero Banorte SAB de CV shares last traded at $52.16, with a volume of 11,677 shares changing hands.

Analyst Upgrades and Downgrades

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 investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Grupo Financiero Banorte SAB de CV presently has an average rating of "Hold".

Grupo Financiero Banorte SAB de CV Stock Up 1.2%

The stock has a market cap of $29.43 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 0.97 and a beta of 0.71. The business has a fifty day moving average of $53.54 and a 200 day moving average of $54.36. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.79 and a quick ratio of 0.79.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) last posted its 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 business had revenue of $2.56 billion during the quarter, compared to analyst estimates 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%. On average, equities analysts predict that Grupo Financiero Banorte SAB de CV will post 6.47 earnings per share for the current year.

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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