Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Share Price Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• Grupo Financiero Banorte SAB de CV's stock price fell below its 50-day moving average of $45.00, trading at $44.65, prompting concerns about potential selling pressure.
• The company reported earnings per share of $1.33, missing the consensus estimate of $1.35, despite a revenue of $2.01 billion for the quarter.
• With a market capitalization of $25.12 billion, Grupo Financiero Banorte has a P/E ratio of 8.39 and a net margin of 13.01% as reported.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $45.00 and traded as low as $44.47. Grupo Financiero Banorte SAB de CV shares last traded at $44.65, with a volume of 6,001 shares changing hands.

Grupo Financiero Banorte SAB de CV Stock Down 0.8%

The company has a debt-to-equity ratio of 0.54, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $24.74 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 0.93 and a beta of 0.71. The firm has a 50 day moving average of $44.88 and a 200-day moving average of $41.21.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.02). Grupo Financiero Banorte SAB de CV had a net margin of 13.01% and a return on equity of 21.04%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $40.02 billion. On average, equities research analysts expect 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 C.V., through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally. The company accepts checking, current, retirement, and payroll accounts; and provides loans, including mortgage, car, payroll, personal, structured, syndicated, SME loans, and credit cards, as well as letter of credit financing, acquisition funding, and import and export foreign trade financing.