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

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) announced its quarterly earnings results on Monday. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.65), Zacks reports. Fomento Economico Mexicano had a return on equity of 7.86% and a net margin of 3.98%.

Fomento Economico Mexicano Stock Performance

NYSE:FMX opened at $92.51 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.64 and a quick ratio of 1.31. The business has a fifty day simple moving average of $103.46 and a two-hundred day simple moving average of $97.99. Fomento Economico Mexicano has a 1 year low of $81.07 and a 1 year high of $114.33. The company has a market capitalization of $33.10 billion, a P/E ratio of 20.63, a P/E/G ratio of 3.11 and a beta of 0.65.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a -- dividend, which will be paid on Monday, July 28th. Investors of record on Thursday, July 17th will be given a dividend of $1.3625 per share. This represents a dividend yield of 2%. This is an increase from Fomento Economico Mexicano's previous -- dividend of $0.73. The ex-dividend date is Thursday, July 17th. Fomento Economico Mexicano's dividend payout ratio (DPR) is presently 49.22%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen cut Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. UBS Group upped their price objective on Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, July 10th. Itau BBA Securities raised Fomento Economico Mexicano from a "market perform" rating to an "outperform" rating in a report on Monday, April 7th. Finally, Barclays upped their price objective on Fomento Economico Mexicano from $102.00 to $108.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $107.45.

Hedge Funds Weigh In On Fomento Economico Mexicano

An institutional investor recently raised its position in Fomento Economico Mexicano stock. AQR Capital Management LLC raised its position in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Free Report) by 19.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,072 shares of the company's stock after purchasing an additional 969 shares during the period. 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 and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.