Barclays Trims Fomento Económico Mexicano (NYSE:FMX) Target Price to $78.00

Fomento Económico Mexicano (NYSE:FMXGet Rating) had its price objective decreased by Barclays from $92.00 to $78.00 in a research report report published on Friday morning, The Fly reports.

A number of other equities analysts have also issued reports on the stock. StockNews.com upgraded shares of Fomento Económico Mexicano from a hold rating to a buy rating in a research report on Tuesday, July 26th. Bradesco Corretora upgraded shares of Fomento Económico Mexicano from a neutral rating to an outperform rating and set a $90.00 price objective on the stock in a research report on Wednesday, June 1st. HSBC lowered shares of Fomento Económico Mexicano from a hold rating to a reduce rating and set a $68.00 price objective on the stock. in a research report on Thursday, May 5th. Finally, FIG Partners upgraded shares of Fomento Económico Mexicano from a neutral rating to an outperform rating and set a $90.00 price objective on the stock in a research report on Wednesday, June 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Fomento Económico Mexicano presently has a consensus rating of Moderate Buy and an average price target of $87.14.

Fomento Económico Mexicano Stock Performance

Shares of FMX opened at $61.11 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52. The firm has a market cap of $21.87 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 1.87 and a beta of 0.95. The company’s 50 day simple moving average is $66.93 and its 200-day simple moving average is $73.83. Fomento Económico Mexicano has a 12-month low of $58.73 and a 12-month high of $89.59.

Fomento Económico Mexicano (NYSE:FMXGet Rating) last announced its earnings results on Monday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.27). The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Fomento Económico Mexicano had a return on equity of 9.84% and a net margin of 5.35%. As a group, equities analysts predict that Fomento Económico Mexicano will post 3.78 EPS for the current year.

Institutional Investors Weigh In On Fomento Económico Mexicano

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fieldpoint Private Securities LLC lifted its holdings in Fomento Económico Mexicano by 125.9% in the first quarter. Fieldpoint Private Securities LLC now owns 323 shares of the company’s stock valued at $27,000 after acquiring an additional 180 shares during the period. Sageworth Trust Co of South Dakota acquired a new position in shares of Fomento Económico Mexicano during the 4th quarter worth $31,000. Brown Brothers Harriman & Co. raised its stake in shares of Fomento Económico Mexicano by 117.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 421 shares of the company’s stock worth $35,000 after buying an additional 227 shares during the last quarter. Concord Wealth Partners acquired a new position in shares of Fomento Económico Mexicano during the 1st quarter worth $36,000. Finally, Washington Trust Advisors Inc. raised its stake in shares of Fomento Económico Mexicano by 38.8% during the 2nd quarter. Washington Trust Advisors Inc. now owns 722 shares of the company’s stock worth $49,000 after buying an additional 202 shares during the last quarter. Institutional investors and hedge funds 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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Analyst Recommendations for Fomento Económico Mexicano (NYSE:FMX)

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