Barclays Issues Pessimistic Forecast for Fomento Economico Mexicano (NYSE:FMX) Stock Price

Key Points

• Barclays has reduced its target price for Fomento Economico Mexicano from $110.00 to $107.00, maintaining an "equal weight" rating, which suggests a potential upside of 17.79% from the last closing price.
• Other analysts have varied opinions, with Itau BBA Securities upgrading the stock to "outperform" while Wall Street Zen downgraded it to "hold"; the overall average rating remains at "Hold" with a consensus price target of $107.20.
• Fomento Economico Mexicano reported an earnings miss in its latest quarterly results, posting an EPS of $0.42, significantly below the consensus estimate of $0.91.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) had its price objective dropped by equities research analysts at Barclays from $110.00 to $107.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective would indicate a potential upside of 20.36% from the stock's previous close.

FMX has been the topic of several other research reports. Itau BBA Securities upgraded shares of Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. UBS Group increased their price objective on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen downgraded shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $107.20.

Fomento Economico Mexicano Trading Down 1.7%

NYSE:FMX traded down $1.56 on Thursday, reaching $88.90. The stock had a trading volume of 655,740 shares, compared to its average volume of 823,730. The company has a market cap of $31.81 billion, a price-to-earnings ratio of 30.24, a P/E/G ratio of 4.27 and a beta of 0.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.34 and a quick ratio of 1.31. The firm's fifty day moving average is $101.82 and its two-hundred day moving average is $98.05. Fomento Economico Mexicano has a 12-month low of $81.07 and a 12-month high of $114.33.

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

Institutional Investors Weigh In On Fomento Economico Mexicano

A number of hedge funds have recently added to or reduced their stakes in FMX. Raymond James Financial Inc. bought a new stake in Fomento Economico Mexicano in the fourth quarter valued at $813,000. LPL Financial LLC lifted its stake in Fomento Economico Mexicano by 93.7% in the fourth quarter. LPL Financial LLC now owns 14,391 shares of the company's stock valued at $1,230,000 after buying an additional 6,960 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Fomento Economico Mexicano by 5.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,015 shares of the company's stock valued at $429,000 after buying an additional 274 shares during the last quarter. Franklin Resources Inc. lifted its stake in Fomento Economico Mexicano by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 3,117 shares of the company's stock valued at $266,000 after buying an additional 125 shares during the last quarter. Finally, Pitcairn Co. lifted its stake in Fomento Economico Mexicano by 3.7% in the fourth quarter. Pitcairn Co. now owns 12,441 shares of the company's stock valued at $1,064,000 after buying an additional 447 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

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.