Fomento Económico Mexicano (NYSE:FMX) Lifted to Outperform at FIG Partners

Fomento Económico Mexicano (NYSE:FMX – Get Rating) was upgraded by equities research analysts at FIG Partners from a “neutral” rating to an “outperform” rating in a note issued to investors on Wednesday, The Fly reports. The brokerage currently has a $90.00 price objective on the stock. FIG Partners’ price target points to a potential upside of 20.26% from the company’s previous close.

Several other equities research analysts have also commented on FMX. Zacks Investment Research lowered shares of Fomento Económico Mexicano from a “buy” rating to a “hold” rating and set a $67.00 price target for the company. in a research report on Tuesday, April 19th. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, May 18th. HSBC lowered shares of Fomento Económico Mexicano from a “hold” rating to a “reduce” rating and set a $68.00 price target for the company. in a research report on Thursday, May 5th. Finally, UBS Group lowered shares of Fomento Económico Mexicano from a “buy” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $86.00 in a research report on Tuesday, February 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $85.57.

FMX opened at $74.84 on Wednesday. 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 stock has a market capitalization of $26.78 billion, a P/E ratio of 19.04, a P/E/G ratio of 2.32 and a beta of 1.04. The company’s 50-day simple moving average is $76.68 and its two-hundred day simple moving average is $76.77. Fomento Económico Mexicano has a 52-week low of $67.53 and a 52-week high of $89.59.

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

Institutional investors have recently added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC increased its holdings in Fomento Económico Mexicano by 125.9% in the 1st 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 stake in Fomento Económico Mexicano during the 4th quarter valued at approximately $31,000. Brown Brothers Harriman & Co. grew its holdings in Fomento Económico Mexicano by 117.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 421 shares of the company’s stock valued at $35,000 after buying an additional 227 shares in the last quarter. Concord Wealth Partners purchased a new stake in Fomento Económico Mexicano during the 1st quarter valued at approximately $36,000. Finally, Marshall Wace LLP purchased a new stake in Fomento Económico Mexicano during the 1st quarter valued at approximately $36,000. 51.65% of the stock is owned by institutional investors.

About Fomento Económico Mexicano (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.

Further Reading

• Get a free copy of the StockNews.com research report on Fomento Económico Mexicano (FMX)
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