Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $113.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.64% from the company’s previous close.

According to Zacks, “FEMSA outperformed the broader industry in the year so far. The company is on track to drive growth through strategic measures, including increasing store count, diversifying business portfolio and focusing on core business activities. Further, its exposure in various industries including beverage, beer and retail, gives it an edge over competitors. Also, FEMSA's strong cash flow generation capacity enables it to make incremental investments in business expansion. However, second-quarter 2017 results marked its fourth consecutive earnings miss, while sales lagged estimates for the second straight time. Moreover, the company continued to witness margin pressures due to decline in margins at Coca-Cola FEMSA and lower-margin businesses growth at FEMSA Comercio, as well as higher operating expenses at Coca-Cola FEMSA and FEMSA Comercio’s Health division. Nevertheless, FEMSA's focus on achieving growth via acquisitions bode well.”

Several other research analysts have also recently commented on the stock. BidaskClub raised shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Gabelli assumed coverage on shares of Fomento Economico Mexicano S.A.B. de C.V. in a research note on Monday, July 17th. They issued a “buy” rating and a $112.00 price objective on the stock. Citigroup Inc. cut shares of Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 13th. Finally, Barclays PLC decreased their price objective on shares of Fomento Economico Mexicano S.A.B. de C.V. from $106.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, May 1st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Fomento Economico Mexicano S.A.B. de C.V. presently has a consensus rating of “Buy” and an average price target of $105.67.

Shares of Fomento Economico Mexicano S.A.B. de C.V. (FMX) traded down 0.19% during mid-day trading on Thursday, hitting $100.32. The company had a trading volume of 351,194 shares. The firm’s 50 day moving average is $100.66 and its 200-day moving average is $92.90. The firm has a market cap of $35.90 billion, a PE ratio of 29.95 and a beta of 0.57. Fomento Economico Mexicano S.A.B. de C.V. has a 12-month low of $73.45 and a 12-month high of $103.82.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last announced its earnings results on Tuesday, July 25th. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by $0.11. Fomento Economico Mexicano S.A.B. de C.V. had a return on equity of 8.42% and a net margin of 5.26%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.49 billion. On average, equities analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post $3.47 EPS for the current year.

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Hedge funds have recently modified their holdings of the stock. Comerica Bank raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 23.5% in the first quarter. Comerica Bank now owns 59,864 shares of the company’s stock worth $5,297,000 after buying an additional 11,380 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 2.8% in the first quarter. BNP Paribas Arbitrage SA now owns 23,555 shares of the company’s stock worth $2,085,000 after buying an additional 633 shares in the last quarter. Baltimore Capital Management Inc. bought a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. during the first quarter worth $338,000. US Bancorp DE raised its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. by 4.6% in the first quarter. US Bancorp DE now owns 12,529 shares of the company’s stock worth $1,109,000 after buying an additional 556 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new stake in shares of Fomento Economico Mexicano S.A.B. de C.V. during the first quarter worth $245,000. Hedge funds and other institutional investors own 23.83% of the company’s stock.

Fomento Economico Mexicano S.A.B. de C.V. Company Profile

Fomento Economico Mexicano, SAB. de C.V. (FEMSA) is a holding company. The Company’s segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, SAB. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, SA de C.V.

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