Fomento Economico Mexicano (NYSE:FMX) Upgraded to "Buy" at UBS Group

Key Points

• Fomento Economico Mexicano (NYSE:FMX) was upgraded by UBS Group to a "buy" rating, with a price target of $111.00, suggesting a 19.74% potential upside from its current price.
• Other analysts have mixed views, with Barclays lowering its target price to $107.00 and Zacks downgrading the stock to a "strong sell" rating.
• As of the last quarter, Fomento Economico Mexicano reported $0.42 earnings per share, which was below the consensus estimate of $0.91.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) was upgraded by research analysts at UBS Group from a "neutral" rating to a "buy" rating in a research report issued on Friday, MarketBeat reports. The brokerage currently has a $111.00 target price on the stock, down from their previous target price of $115.00. UBS Group's price target would suggest a potential upside of 12.44% from the stock's current price.

A number of other research firms also recently weighed in on FMX. Barclays decreased their target price on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Zacks Research downgraded shares of Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a research report on Friday, September 5th. Morgan Stanley reissued an "equal weight" rating and issued a $97.00 price objective (down previously from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Citigroup raised shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $93.00 to $97.00 in a research report on Tuesday, September 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $100.97.

Fomento Economico Mexicano Stock Up 1.8%

Fomento Economico Mexicano stock traded up $1.72 during mid-day trading on Friday, reaching $98.72. The company's stock had a trading volume of 202,826 shares, compared to its average volume of 689,586. The company has a market capitalization of $35.32 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 5.64 and a beta of 0.70. Fomento Economico Mexicano has a 12 month low of $81.07 and a 12 month high of $108.74. The business's 50 day simple moving average is $90.30 and its 200 day simple moving average is $98.09. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.34.

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 for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. As a group, research analysts anticipate that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. raised its holdings in Fomento Economico Mexicano by 446.4% during the second quarter. Osaic Holdings Inc. now owns 2,568 shares of the company's stock worth $260,000 after buying an additional 2,098 shares during the last quarter. Orion Porfolio Solutions LLC raised its holdings in Fomento Economico Mexicano by 17.6% during the second quarter. Orion Porfolio Solutions LLC now owns 6,127 shares of the company's stock worth $631,000 after buying an additional 919 shares during the last quarter. Nomura Holdings Inc. raised its holdings in Fomento Economico Mexicano by 62.0% during the second quarter. Nomura Holdings Inc. now owns 23,878 shares of the company's stock worth $2,459,000 after buying an additional 9,140 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company's stock worth $45,000 after buying an additional 131 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in Fomento Economico Mexicano by 5.7% during the second quarter. Captrust Financial Advisors now owns 16,917 shares of the company's stock worth $1,742,000 after buying an additional 916 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

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.