Fomento Economico Mexicano (NYSE:FMX) Releases Quarterly Earnings Results

Fomento Economico Mexicano (NYSE:FMXGet Free Report) released its quarterly earnings results on Tuesday. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01, FiscalAI reports. The firm had revenue of $13.20 billion for the quarter, compared to the consensus estimate of $12.94 billion. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%.

Fomento Economico Mexicano Stock Performance

NYSE FMX opened at $132.23 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average price is $126.01 and its two-hundred day moving average price is $116.42. Fomento Economico Mexicano has a 1 year low of $83.08 and a 1 year high of $134.52. The firm has a market capitalization of $45.69 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 15th were issued a dividend of $1.827 per share. The ex-dividend date was Wednesday, July 15th. This is a positive change from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. This represents a $7.31 dividend on an annualized basis and a yield of 5.5%. Fomento Economico Mexicano’s dividend payout ratio is presently 54.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. increased its stake in shares of Fomento Economico Mexicano by 15.1% during the 4th quarter. UMB Bank n.a. now owns 733 shares of the company’s stock worth $74,000 after purchasing an additional 96 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Fomento Economico Mexicano by 42.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after purchasing an additional 131 shares during the last quarter. Arax Advisory Partners lifted its stake in Fomento Economico Mexicano by 20.1% in the 4th quarter. Arax Advisory Partners now owns 812 shares of the company’s stock valued at $82,000 after purchasing an additional 136 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in Fomento Economico Mexicano by 5.2% during the fourth quarter. Kestra Advisory Services LLC now owns 3,864 shares of the company’s stock worth $391,000 after purchasing an additional 190 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Fomento Economico Mexicano by 15.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,563 shares of the company’s stock worth $157,000 after purchasing an additional 206 shares during the period. Institutional investors own 61.00% of the company’s stock.

Wall Street Analyst Weigh In

FMX has been the subject of a number of research reports. Zacks Research upgraded Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Weiss Ratings upgraded Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. UBS Group upped their price target on Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.50.

Check Out Our Latest Research Report on FMX

About Fomento Economico Mexicano

(Get Free Report)

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.

See Also

Earnings History for Fomento Economico Mexicano (NYSE:FMX)

Receive News & Ratings for Fomento Economico Mexicano Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fomento Economico Mexicano and related companies with MarketBeat.com's FREE daily email newsletter.