Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Raises Dividend to $1.63 Per Share

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) declared a dividend on Thursday, April 17th, investing.com reports. Shareholders of record on Friday, April 25th will be paid a dividend of 1.628 per share on Monday, May 5th. This represents a yield of 1.57%. The ex-dividend date of this dividend is Thursday, April 24th. This is a 76.9% increase from Fomento Económico Mexicano’s previous dividend of $0.92.

Fomento Económico Mexicano has raised its dividend by an average of 76.5% per year over the last three years. Fomento Económico Mexicano has a payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fomento Económico Mexicano to earn $5.32 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 16.9%.

Fomento Económico Mexicano Trading Down 1.1 %

Shares of FMX stock opened at $104.61 on Tuesday. The company has a market capitalization of $37.43 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The business’s fifty day moving average is $96.54 and its 200 day moving average is $92.16. Fomento Económico Mexicano has a 52-week low of $81.08 and a 52-week high of $123.09.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($1.05). The company had revenue of $9.99 billion during the quarter, compared to the consensus estimate of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. On average, equities research analysts anticipate that Fomento Económico Mexicano will post 5.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FMX. Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research report on Monday, April 7th. Barclays raised their price objective on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. UBS Group increased their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, March 14th. Finally, The Goldman Sachs Group lowered their price target on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.95.

About Fomento Económico Mexicano

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.