Fomento Económico Mexicano (NYSE:FMX) Issues Quarterly Earnings Results

Fomento Económico Mexicano (NYSE:FMX) announced its quarterly earnings data on Monday. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.28), Zacks reports. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%.

Fomento Económico Mexicano Trading Down 0.2 %

Shares of NYSE FMX traded down $0.21 during midday trading on Monday, hitting $106.20. The stock had a trading volume of 176,757 shares, compared to its average volume of 622,020. The company has a fifty day moving average price of $97.77 and a 200 day moving average price of $92.37. The company has a market capitalization of $38.00 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 5.26 and a beta of 0.68. Fomento Económico Mexicano has a 1-year low of $81.08 and a 1-year high of $123.09. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 25th will be given a dividend of $1.628 per share. This represents a yield of 1.57%. The ex-dividend date is Thursday, April 24th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.92. Fomento Económico Mexicano’s payout ratio is 11.75%.

Analyst Ratings Changes

FMX has been the subject of a number of analyst reports. Itau BBA Securities raised Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a report on Monday, April 7th. The Goldman Sachs Group decreased their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. UBS Group boosted their price objective on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. Finally, Barclays raised their target price on shares of Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.95.

About Fomento Económico Mexicano

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.