Fomento Economico Mexicano (NYSE:FMX – Get 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
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
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.
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