Fomento Económico Mexicano (NYSE:FMX) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Fomento Económico Mexicano (NYSE:FMX) issued its earnings results on Monday. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07), Zacks reports. The business had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $194.75 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%.

Fomento Económico Mexicano Trading Down 0.3 %

Shares of FMX traded down $0.28 during trading hours on Tuesday, hitting $106.07. 84,173 shares of the stock were exchanged, compared to its average volume of 622,610. The business has a 50-day moving average of $98.08 and a 200-day moving average of $92.43. Fomento Económico Mexicano has a fifty-two week low of $81.08 and a fifty-two week high of $123.09. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The firm has a market capitalization of $37.95 billion, a P/E ratio of 27.16, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68.

Fomento Económico Mexicano Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, May 5th. Stockholders of record on Friday, April 25th will be given a dividend of $1.628 per share. The ex-dividend date is Thursday, April 24th. This is a boost from Fomento Económico Mexicano’s previous dividend of $0.92. This represents a dividend yield of 1.57%. Fomento Económico Mexicano’s dividend payout ratio is 11.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FMX shares. Barclays boosted their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group dropped their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a report on Tuesday, January 28th. UBS Group raised their target price on shares of Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, March 14th. Finally, Itau BBA Securities upgraded shares of Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fomento Económico Mexicano currently has an average rating of “Moderate Buy” and a consensus price target of $103.95.

Fomento Económico 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.