Fomento Economico Mexicano S.A.B. de C.V. (FMX) To Go Ex-Dividend on July 15th

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) declared a quarterly dividend on Wednesday, July 8th. Stockholders of record on Wednesday, July 15th will be paid a dividend of 1.827 per share on Monday, July 27th. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Wednesday, July 15th. This is a 174.4% increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67.

Fomento Economico Mexicano has raised its dividend by an average of 0.3%annually over the last three years. Fomento Economico Mexicano has a dividend payout ratio of 78.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Fomento Economico Mexicano to earn $5.41 per share next year, which means the company should continue to be able to cover its $4.13 annual dividend with an expected future payout ratio of 76.3%.

Fomento Economico Mexicano Stock Up 0.1%

NYSE FMX opened at $127.74 on Monday. The firm has a market cap of $44.14 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41. Fomento Economico Mexicano has a one year low of $83.08 and a one year high of $131.81. The stock’s 50 day simple moving average is $124.26 and its 200 day simple moving average is $114.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.16 and a quick ratio of 0.87.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. The firm had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. As a group, sell-side analysts forecast that Fomento Economico Mexicano will post 6.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FMX. JPMorgan Chase & Co. raised their target price on Fomento Economico Mexicano from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. UBS Group upped their price target on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. Barclays raised their price objective on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Finally, Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.67.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.