Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Reaches New 52-Week High After Earnings Beat

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s share price hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $57.63 and last traded at $57.2875, with a volume of 5045 shares changing hands. The stock had previously closed at $55.15.

The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. The firm had revenue of $2.30 billion for the quarter. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%.

Grupo Financiero Banorte SAB de CV Stock Performance

The stock’s 50-day moving average price is $49.14 and its 200-day moving average price is $47.51. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $33.49 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.66 and a beta of 0.83.

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.