Fomento Economico Mexicano SAB (FMX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Fomento Economico Mexicano SAB (NYSE:FMX) have been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company.

FMX has been the subject of a number of research analyst reports. ValuEngine cut shares of Fomento Economico Mexicano SAB from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. JPMorgan Chase & Co. started coverage on shares of Fomento Economico Mexicano SAB in a research report on Monday, August 6th. They set an “overweight” rating for the company. UBS Group raised shares of Fomento Economico Mexicano SAB from a “neutral” rating to a “buy” rating in a research report on Monday, October 1st. Gabelli reissued a “buy” rating on shares of Fomento Economico Mexicano SAB in a research report on Monday, July 30th. Finally, Zacks Investment Research cut shares of Fomento Economico Mexicano SAB from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd.

A number of hedge funds have recently modified their holdings of FMX. Columbia Asset Management purchased a new position in Fomento Economico Mexicano SAB in the 3rd quarter valued at approximately $144,000. Engineers Gate Manager LP purchased a new position in Fomento Economico Mexicano SAB in the 2nd quarter valued at approximately $202,000. Laurel Wealth Advisors Inc. purchased a new position in Fomento Economico Mexicano SAB in the 3rd quarter valued at approximately $203,000. FineMark National Bank & Trust purchased a new position in Fomento Economico Mexicano SAB in the 3rd quarter valued at approximately $208,000. Finally, Cidel Asset Management Inc. purchased a new position in Fomento Economico Mexicano SAB in the 3rd quarter valued at approximately $212,000. 19.84% of the stock is owned by institutional investors.

NYSE:FMX opened at $87.08 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.63 and a quick ratio of 1.34. The company has a market cap of $31.16 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.48 and a beta of 0.73. Fomento Economico Mexicano SAB has a fifty-two week low of $80.86 and a fifty-two week high of $101.12.

Fomento Economico Mexicano SAB (NYSE:FMX) last posted its quarterly earnings data on Friday, October 26th. The company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.02 by ($0.30). The company had revenue of $6.25 billion for the quarter, compared to analysts’ expectations of $6.16 billion. Fomento Economico Mexicano SAB had a return on equity of 4.59% and a net margin of 3.16%. As a group, equities analysts forecast that Fomento Economico Mexicano SAB will post 3.72 EPS for the current year.

The firm also recently declared a special dividend, which was paid on Friday, November 16th. Shareholders of record on Monday, November 5th were given a $0.7352 dividend. The ex-dividend date was Friday, November 2nd. This represents a yield of 1.47%. Fomento Economico Mexicano SAB’s dividend payout ratio is presently 22.55%.

About Fomento Economico Mexicano SAB

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages and a chain of small-format stores. The company produces, markets, distributes, and sells Coca-Cola trademark beverages, including sparkling beverages, such as colas and flavored sparkling beverages; and waters and still beverages comprising juice, coffee, tea, milk, value-added dairy, sports, energy, and plant-based drinks.

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