Fomento Economico Mexicano (NYSE:FMX) Releases Earnings Results, Misses Estimates By $0.49 EPS

Key Points

• Fomento Economico Mexicano reported $0.42 earnings per share (EPS) for the quarter, significantly missing the consensus estimate of $1.07 by ($0.65).
• The company announced a dividend increase to $1.3625 per share, reflecting a yield of 2% and raising the payout from a previous $0.73.
• Investment analysts have mixed ratings on the stock, with a consensus price target of $107.45 and four analysts rating it as a hold.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) issued its earnings results on Monday. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.49), Zacks reports. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.

Fomento Economico Mexicano Trading Up 0.6%

Shares of NYSE:FMX traded up $0.56 during trading on Thursday, reaching $90.45. The stock had a trading volume of 981,094 shares, compared to its average volume of 599,726. The firm's fifty day moving average is $102.49 and its 200 day moving average is $97.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.31 and a current ratio of 1.34. Fomento Economico Mexicano has a 52 week low of $81.07 and a 52 week high of $114.33. The stock has a market cap of $32.36 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 4.35 and a beta of 0.65.

Fomento Economico Mexicano Increases Dividend

The company also recently disclosed a -- dividend, which was paid on Monday, July 28th. Stockholders of record on Thursday, July 17th were paid a $1.3625 dividend. The ex-dividend date of this dividend was Thursday, July 17th. This represents a dividend yield of 200.0%. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. Fomento Economico Mexicano's payout ratio is currently 74.83%.

Institutional Investors Weigh In On Fomento Economico Mexicano

A hedge fund recently raised its stake in Fomento Economico Mexicano stock. AQR Capital Management LLC increased its stake in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 19.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,072 shares of the company's stock after acquiring an additional 969 shares during the quarter. AQR Capital Management LLC's holdings in Fomento Economico Mexicano were worth $593,000 at the end of the most recent reporting period. 61.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FMX has been the subject of several research reports. UBS Group lifted their price target on Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Wall Street Zen cut Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Itau BBA Securities raised shares of Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Finally, Barclays dropped their price target on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $107.20.

About Fomento Economico 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.