Brokerages Anticipate Fomento Economico Mexicano SAB (NYSE:FMX) to Announce $1.18 Earnings Per Share

Brokerages predict that Fomento Economico Mexicano SAB (NYSE:FMX) will post $1.18 earnings per share (EPS) 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 reported earnings per share of $1.33 during the same quarter last year, which would suggest a negative year-over-year growth rate of 11.3%. The business is scheduled to announce its next quarterly earnings results before the market opens on Thursday, February 27th.

On average, analysts expect that Fomento Economico Mexicano SAB will report full-year earnings of $3.47 per share for the current financial year, with EPS estimates ranging from $3.20 to $3.65. For the next year, analysts expect that the business will report earnings of $4.11 per share, with EPS estimates ranging from $3.84 to $4.40. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Fomento Economico Mexicano SAB.

Separately, Citigroup raised Fomento Economico Mexicano SAB from a “neutral” rating to a “buy” rating and set a $112.00 price target for the company in a research note on Tuesday, January 7th.

A number of large investors have recently added to or reduced their stakes in the stock. Coronation Fund Managers Ltd. lifted its stake in Fomento Economico Mexicano SAB by 59.5% in the fourth quarter. Coronation Fund Managers Ltd. now owns 1,726,695 shares of the company’s stock valued at $163,190,000 after acquiring an additional 643,914 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Fomento Economico Mexicano SAB by 17.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,118,853 shares of the company’s stock worth $200,253,000 after purchasing an additional 309,787 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Fomento Economico Mexicano SAB by 60.3% during the 4th quarter. Bank of America Corp DE now owns 741,611 shares of the company’s stock worth $70,089,000 after purchasing an additional 279,024 shares during the last quarter. Black Creek Investment Management Inc. raised its holdings in shares of Fomento Economico Mexicano SAB by 21.7% during the 4th quarter. Black Creek Investment Management Inc. now owns 966,381 shares of the company’s stock valued at $91,333,000 after purchasing an additional 172,421 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Fomento Economico Mexicano SAB by 494.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 102,545 shares of the company’s stock valued at $9,391,000 after purchasing an additional 85,300 shares in the last quarter. Hedge funds and other institutional investors own 20.04% of the company’s stock.

Shares of NYSE FMX opened at $95.26 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.52 and a quick ratio of 1.24. Fomento Economico Mexicano SAB has a one year low of $84.85 and a one year high of $100.35. The business’s 50-day moving average price is $94.41 and its two-hundred day moving average price is $92.22. The company has a market capitalization of $34.09 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58.

Fomento Economico Mexicano SAB Company Profile

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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