Fomento Economico Mexicano SAB (FMX) Expected to Post Quarterly Sales of $6.57 Billion

Equities analysts expect that Fomento Economico Mexicano SAB (NYSE:FMX) will post sales of $6.57 billion for the current quarter, according to Zacks. Two analysts have issued estimates for Fomento Economico Mexicano SAB’s earnings. The highest sales estimate is $6.86 billion and the lowest is $6.29 billion. Fomento Economico Mexicano SAB posted sales of $5.54 billion in the same quarter last year, which would indicate a positive year over year growth rate of 18.6%. The firm is expected to report its next earnings report on Monday, February 26th.

According to Zacks, analysts expect that Fomento Economico Mexicano SAB will report full year sales of $6.57 billion for the current year, with estimates ranging from $24.07 billion to $26.45 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $26.91 billion per share, with estimates ranging from $25.25 billion to $29.31 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Fomento Economico Mexicano SAB.

FMX has been the topic of several analyst reports. BidaskClub raised shares of Fomento Economico Mexicano SAB from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research downgraded shares of Fomento Economico Mexicano SAB from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Morgan Stanley initiated coverage on shares of Fomento Economico Mexicano SAB in a research report on Thursday, September 14th. They issued an “overweight” rating and a $120.00 target price on the stock. Finally, J P Morgan Chase & Co raised shares of Fomento Economico Mexicano SAB from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $98.00 to $117.00 in a research report on Monday, October 2nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $114.40.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. grew its position in Fomento Economico Mexicano SAB by 0.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,372 shares of the company’s stock valued at $922,000 after purchasing an additional 76 shares in the last quarter. Zevin Asset Management LLC grew its position in Fomento Economico Mexicano SAB by 0.7% during the second quarter. Zevin Asset Management LLC now owns 16,080 shares of the company’s stock valued at $1,581,000 after purchasing an additional 115 shares in the last quarter. Permit Capital LLC grew its position in Fomento Economico Mexicano SAB by 12.8% during the second quarter. Permit Capital LLC now owns 1,100 shares of the company’s stock valued at $109,000 after purchasing an additional 125 shares in the last quarter. M&T Bank Corp grew its position in Fomento Economico Mexicano SAB by 3.8% during the second quarter. M&T Bank Corp now owns 4,053 shares of the company’s stock valued at $398,000 after purchasing an additional 147 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Fomento Economico Mexicano SAB by 1.6% during the second quarter. BNP Paribas Arbitrage SA now owns 23,936 shares of the company’s stock valued at $2,354,000 after purchasing an additional 381 shares in the last quarter. 21.23% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Economico Mexicano SAB (FMX) traded up $1.86 during trading on Tuesday, hitting $95.60. 558,700 shares of the stock traded hands, compared to its average volume of 425,999. The stock has a market capitalization of $33,542.29, a P/E ratio of 13.18, a P/E/G ratio of 0.86 and a beta of 0.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.55 and a current ratio of 1.88. Fomento Economico Mexicano SAB has a 1-year low of $73.45 and a 1-year high of $103.82.

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About Fomento Economico Mexicano SAB

Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.

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