Bradesco Corretora Upgrades Fomento Económico Mexicano (NYSE:FMX) to Outperform

Fomento Económico Mexicano (NYSE:FMXGet Rating) was upgraded by stock analysts at Bradesco Corretora from a “neutral” rating to an “outperform” rating in a report released on Wednesday, The Fly reports. The brokerage presently has a $90.00 price target on the stock. Bradesco Corretora’s price objective would suggest a potential upside of 20.26% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. HSBC downgraded Fomento Económico Mexicano from a “hold” rating to a “reduce” rating and set a $68.00 target price on the stock. in a research report on Thursday, May 5th. Zacks Investment Research cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating and set a $67.00 price target on the stock. in a report on Tuesday, April 19th. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, May 18th. UBS Group cut Fomento Económico Mexicano from a “buy” rating to a “neutral” rating and decreased their price target for the company from $105.00 to $86.00 in a report on Tuesday, February 1st. Finally, FIG Partners raised Fomento Económico Mexicano from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Fomento Económico Mexicano currently has an average rating of “Buy” and a consensus price target of $86.13.

NYSE FMX opened at $74.84 on Wednesday. The company has a market capitalization of $26.78 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.32 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 1.61. The business’s fifty day moving average is $76.68 and its 200 day moving average is $76.77. Fomento Económico Mexicano has a fifty-two week low of $67.53 and a fifty-two week high of $89.59.

Fomento Económico Mexicano (NYSE:FMXGet Rating) last released its earnings results on Monday, May 2nd. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.27). The company had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Fomento Económico Mexicano had a net margin of 4.84% and a return on equity of 8.58%. On average, sell-side analysts forecast that Fomento Económico Mexicano will post 3.7 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMX. Fieldpoint Private Securities LLC grew its position in Fomento Económico Mexicano by 125.9% in the first quarter. Fieldpoint Private Securities LLC now owns 323 shares of the company’s stock worth $27,000 after acquiring an additional 180 shares in the last quarter. Sageworth Trust Co of South Dakota purchased a new position in Fomento Económico Mexicano in the fourth quarter worth about $31,000. Brown Brothers Harriman & Co. grew its position in Fomento Económico Mexicano by 117.0% in the first quarter. Brown Brothers Harriman & Co. now owns 421 shares of the company’s stock worth $35,000 after acquiring an additional 227 shares in the last quarter. Concord Wealth Partners purchased a new position in Fomento Económico Mexicano in the first quarter worth about $36,000. Finally, Marshall Wace LLP purchased a new position in Fomento Económico Mexicano in the first quarter worth about $36,000. Institutional investors own 51.65% of the company’s stock.

Fomento Económico Mexicano Company Profile (Get Rating)

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.

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