Zacks: Analysts Anticipate Fomento Economico Mexicano SAB (NYSE:FMX) to Announce $0.80 Earnings Per Share

Wall Street analysts expect Fomento Economico Mexicano SAB (NYSE:FMX) to report earnings of $0.80 per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Fomento Economico Mexicano SAB’s earnings. Fomento Economico Mexicano SAB posted earnings of $1.25 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 36%. The company is scheduled to announce its next earnings report on Friday, July 26th.

According to Zacks, analysts expect that Fomento Economico Mexicano SAB will report full year earnings of $3.65 per share for the current fiscal year, with EPS estimates ranging from $2.90 to $4.22. For the next financial year, analysts forecast that the company will post earnings of $4.13 per share, with EPS estimates ranging from $3.95 to $4.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Fomento Economico Mexicano SAB.

Fomento Economico Mexicano SAB (NYSE:FMX) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.30). Fomento Economico Mexicano SAB had a return on equity of 7.87% and a net margin of 5.40%. The company had revenue of $6.04 billion during the quarter.

A number of brokerages have commented on FMX. ValuEngine upgraded Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. Santander lowered Fomento Economico Mexicano SAB from a “hold” rating to an “underperform” rating in a research note on Monday, February 25th. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. Fomento Economico Mexicano SAB presently has an average rating of “Hold” and a consensus price target of $100.00.

Shares of NYSE FMX traded up $0.17 during mid-day trading on Friday, reaching $98.32. The company had a trading volume of 6,119 shares, compared to its average volume of 288,826. Fomento Economico Mexicano SAB has a 1-year low of $80.86 and a 1-year high of $101.12. The company has a quick ratio of 1.12, a current ratio of 1.39 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $35.26 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.70 and a beta of 0.63.

The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were paid a dividend of $0.756 per share. This represents a yield of 1.61%. The ex-dividend date was Friday, May 3rd. Fomento Economico Mexicano SAB’s payout ratio is presently 43.19%.

A number of institutional investors have recently modified their holdings of FMX. JPMorgan Chase & Co. grew its stake in Fomento Economico Mexicano SAB by 3.8% during the 1st quarter. JPMorgan Chase & Co. now owns 5,220,741 shares of the company’s stock valued at $481,770,000 after purchasing an additional 191,820 shares in the last quarter. Comgest Global Investors S.A.S. grew its stake in Fomento Economico Mexicano SAB by 1.1% in the fourth quarter. Comgest Global Investors S.A.S. now owns 3,834,214 shares of the company’s stock valued at $329,934,000 after purchasing an additional 41,600 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Fomento Economico Mexicano SAB by 10.3% in the first quarter. Janus Henderson Group PLC now owns 3,024,836 shares of the company’s stock worth $279,075,000 after buying an additional 281,252 shares during the last quarter. BlackRock Inc. raised its holdings in Fomento Economico Mexicano SAB by 27.3% in the 1st quarter. BlackRock Inc. now owns 1,654,634 shares of the company’s stock valued at $152,689,000 after acquiring an additional 354,644 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its stake in shares of Fomento Economico Mexicano SAB by 3.2% in the 1st quarter. Commonwealth Bank of Australia now owns 1,365,208 shares of the company’s stock valued at $125,970,000 after purchasing an additional 41,765 shares during the period. 20.85% of the stock is currently owned by institutional investors and hedge funds.

About Fomento Economico Mexicano SAB

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, including sparkling beverages; and waters, juices, coffee, tea, sports and energy drinks, and dairy and plant-based protein beverages.

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