Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Increases Dividend to $2.00 Per Share

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) announced a quarterly dividend on Friday, October 3rd. Shareholders of record on Thursday, October 16th will be given a dividend of 1.9982 per share on Monday, October 27th. This represents a c) annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend is Thursday, October 16th. This is a 46.7% increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36.

Fomento Economico Mexicano has a dividend payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fomento Economico Mexicano to earn $5.32 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 10.9%.

Fomento Economico Mexicano Stock Performance

NYSE FMX opened at $92.48 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $90.56 and its two-hundred day moving average is $97.88. Fomento Economico Mexicano has a 12-month low of $81.07 and a 12-month high of $108.74. The stock has a market capitalization of $33.09 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 5.49 and a beta of 0.72.

Fomento Economico Mexicano (NYSE:FMX) last released its earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.49). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $216.71 billion. Research analysts expect that Fomento Economico Mexicano will post 5.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FMX. Barclays lowered their price target on Fomento Economico Mexicano from $110.00 to $107.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Citigroup upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and upped their price target for the stock from $93.00 to $97.00 in a report on Tuesday, September 9th. Morgan Stanley restated an “equal weight” rating and issued a $97.00 price target (down previously from $132.00) on shares of Fomento Economico Mexicano in a report on Tuesday, August 19th. UBS Group upgraded Fomento Economico Mexicano from a “neutral” rating to a “buy” rating and lowered their target price for the company from $115.00 to $111.00 in a report on Friday, September 19th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fomento Economico Mexicano in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Fomento Economico Mexicano currently has a consensus rating of “Hold” and a consensus target price of $100.97.

Fomento Economico Mexicano Company Profile

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.