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

Key Points

• Grupo Financiero Banorte shares opened sharply higher, rising from a prior close of $55.43 to $58.83 before trading at $55.88 on relatively low volume.
• Analyst sentiment is bearish: Zacks Research downgraded the stock from “hold” to “strong sell,” while the overall analyst rating is currently “Sell.”
• The company slightly exceeded quarterly expectations, reporting $1.59 in EPS versus a $1.58 consensus estimate and $2.48 billion in revenue versus $2.29 billion expected; analysts project $6.13 EPS for the full fiscal year.

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) gapped up prior to trading on Friday. The stock had previously closed at $55.43, but opened at $58.83. Grupo Financiero Banorte SAB de CV shares last traded at $55.88, with a volume of 2,247 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Grupo Financiero Banorte SAB de CV from a "hold" rating to a "strong sell" rating in a report on Monday. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Grupo Financiero Banorte SAB de CV currently has an average rating of "Sell".

Grupo Financiero Banorte SAB de CV Stock Up 0.5%

The company's fifty day moving average is $55.46 and its 200-day moving average is $55.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $31.43 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.29 and a beta of 0.71.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.58 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. Grupo Financiero Banorte SAB de CV had a net margin of 14.97% and a return on equity of 22.30%. As a group, analysts predict that Grupo Financiero Banorte SAB de CV will post 6.13 EPS for the current fiscal year.

Grupo Financiero Banorte SAB de CV Company Profile

Grupo Financiero Banorte, SAB. de C.V. is a Mexico-based financial services holding company and the parent organization of Grupo Financiero Banorte. Through its subsidiaries, the group provides banking, insurance, retirement savings, investment, brokerage and other financial services to individuals, small and medium-sized businesses, corporations and government entities.

Its principal banking subsidiary, Banco Mercantil del Norte, operates under the Banorte brand and offers deposit accounts, consumer and commercial loans, mortgages, credit cards, payment services, investment products and digital banking.

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