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

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) announced a dividend on Thursday, April 17th, investing.com reports. Stockholders of record on Friday, April 25th will be given a dividend of 1.628 per share on Monday, May 5th. This represents a dividend 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. 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 Stock Performance

Shares of FMX opened at $103.86 on Thursday. The firm has a market capitalization of $37.16 billion, a P/E ratio of 26.63, a P/E/G ratio of 5.26 and a beta of 0.68. Fomento Económico Mexicano has a 52 week low of $81.08 and a 52 week high of $123.09. The stock has a 50 day moving average price of $95.49 and a two-hundred day moving average price of $92.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FMX shares. Itau BBA Securities upgraded Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. UBS Group increased their target price on Fomento Económico Mexicano from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, March 14th. Barclays raised their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group cut their price objective on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $103.95.

Fomento Económico Mexicano 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 in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.