Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Stock Price Passes Below 50-Day Moving Average - Time to Sell?

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) passed below its 50 day moving average during trading on Thursday . The stock has a 50 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 1.3%

The firm has a market capitalization of $25.12 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of 0.95 and a beta of 0.71. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.54. The company's 50 day moving average price is $45.00 and its 200 day moving average price is $40.97.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.02). Grupo Financiero Banorte SAB de CV had a return on equity of 21.04% and a net margin of 13.01%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $40.02 billion. As a group, research analysts forecast that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current fiscal year.

Grupo Financiero Banorte SAB de CV Company Profile

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.

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