Fomento Económico Mexicano (NYSE:FMX) Posts Quarterly Earnings Results, Misses Expectations By $1.05 EPS

Fomento Económico Mexicano (NYSE:FMX) announced its earnings results on Thursday. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($1.05), Zacks reports. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. The business had revenue of $9.99 billion for the quarter, compared to analysts’ expectations of $201.67 billion.

Fomento Económico Mexicano Price Performance

NYSE FMX traded down $0.05 during trading hours on Friday, hitting $94.04. The company had a trading volume of 864,738 shares, compared to its average volume of 528,604. Fomento Económico Mexicano has a 52 week low of $81.07 and a 52 week high of $131.56. The firm has a 50 day simple moving average of $86.63 and a 200 day simple moving average of $93.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The firm has a market capitalization of $33.65 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 5.26 and a beta of 0.90.

Fomento Económico Mexicano Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a $0.9201 dividend. The ex-dividend date was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 11.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FMX shares. The Goldman Sachs Group decreased their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Barclays downgraded Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th.

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.