Fomento Economico Mexicano SAB (FMX) Shares Gap Down to $92.43
Fomento Economico Mexicano SAB (NYSE:FMX)’s share price gapped down prior to trading on Monday . The stock had previously closed at $92.18, but opened at $92.43. Fomento Economico Mexicano SAB shares last traded at $92.85, with a volume of 220,900 shares changing hands.
Several equities analysts have weighed in on FMX shares. Zacks Investment Research lowered Fomento Economico Mexicano SAB from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Barclays PLC restated a “buy” rating and issued a $110.00 price target on shares of Fomento Economico Mexicano SAB in a report on Tuesday, July 19th. Finally, HSBC upgraded Fomento Economico Mexicano SAB from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $107.75.
The firm has a market capitalization of $33.22 billion and a P/E ratio of 33.16. The stock has a 50 day moving average of $93.77 and a 200 day moving average of $92.43.
Fomento Economico Mexicano SAB (NYSE:FMX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.12. Analysts predict that Fomento Economico Mexicano SAB will post $3.10 EPS for the current fiscal year.
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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