Fomento Economico Mexicano SAB (fmx) Raises Dividend to $0.69 Per Share
Fomento Economico Mexicano SAB (NYSE:fmx) announced a dividend on Thursday, April 20th. Investors of record on Thursday, May 4th will be paid a dividend of 0.687 per share on Monday, May 15th. The ex-dividend date is Tuesday, May 2nd. This is a boost from Fomento Economico Mexicano SAB’s previous dividend of $0.68.
Fomento Economico Mexicano SAB has decreased its dividend payment by an average of 24.4% per year over the last three years. Fomento Economico Mexicano SAB has a payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fomento Economico Mexicano SAB to earn $3.23 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 40.2%.
Shares of Fomento Economico Mexicano SAB (NYSE:FMX) traded down 0.47% during mid-day trading on Friday, reaching $90.38. The company had a trading volume of 272,277 shares. The company has a 50 day moving average price of $89.29 and a 200 day moving average price of $84.32. The company has a market capitalization of $32.34 billion, a price-to-earnings ratio of 28.69 and a beta of 0.67. Fomento Economico Mexicano SAB has a one year low of $73.45 and a one year high of $100.57.
Fomento Economico Mexicano SAB (NYSE:FMX) last announced its earnings results on Monday, February 27th. The company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.02 by $0.12. Fomento Economico Mexicano SAB had a return on equity of 8.47% and a net margin of 5.72%. The company earned $5.54 billion during the quarter, compared to the consensus estimate of $4.91 billion. On average, analysts anticipate that Fomento Economico Mexicano SAB will post $2.74 EPS for the current year.
A number of equities analysts recently commented on the company. Zacks Investment Research raised Fomento Economico Mexicano SAB from a “sell” rating to a “hold” rating in a report on Thursday, March 2nd. Barclays PLC set a $92.00 target price on Fomento Economico Mexicano SAB and gave the stock a “buy” rating in a report on Monday, January 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Fomento Economico Mexicano SAB presently has a consensus rating of “Buy” and a consensus price target of $100.33.
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Fomento Economico Mexicano SAB 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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