Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up - Here's What Happened

Key Points

• Shares gapped up: GBOOY opened at $57.34 after a prior close of $53.6030 and last traded at $55.30 on light volume (2,232 shares).
• Zacks Research upgraded Banorte from "hold" to "strong-buy," and MarketBeat shows a consensus rating of "Strong Buy."
• Earnings and fundamentals were solid: Q1 EPS of $1.54 beat estimates of $1.35 with $2.30B revenue, a 13.5% net margin and 22.2% ROE; the stock trades at a P/E of 10.26 and a market cap of about $31.35B.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $53.6030, but opened at $57.34. Grupo Financiero Banorte SAB de CV shares last traded at $55.30, with a volume of 2,232 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Grupo Financiero Banorte SAB de CV from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Strong Buy".

Grupo Financiero Banorte SAB de CV Stock Performance

The stock's 50-day moving average is $54.64 and its 200 day moving average is $50.17. The stock has a market cap of $31.35 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 1.02 and a beta of 0.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.23 and a quick ratio of 0.23.

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