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 Friday. The brokerage currently has a $112.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.14% from the stock’s current price.

According to Zacks, “FEMSA outperformed the broader industry in the last three months. 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.”

Other equities research analysts have also issued reports about the company. BidaskClub lowered Fomento Economico Mexicano S.A.B. de C.V. from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Gabelli started coverage on Fomento Economico Mexicano S.A.B. de C.V. in a research report on Monday, July 17th. They set a “buy” rating and a $112.00 price target on the stock. Citigroup Inc. lowered Fomento Economico Mexicano S.A.B. de C.V. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 13th. Finally, Barclays PLC dropped their price target on 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 report on Monday, May 1st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $105.33.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) traded down 0.59% during trading on Friday, hitting $98.99. The company’s stock had a trading volume of 259,839 shares. 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. The firm has a 50 day moving average of $98.91 and a 200 day moving average of $90.15. The firm has a market cap of $35.42 billion, a P/E ratio of 28.78 and a beta of 0.57.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.11. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.49 billion. Fomento Economico Mexicano S.A.B. de C.V. had a return on equity of 8.42% and a net margin of 5.26%. Equities research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post $3.43 earnings per share for the current year.

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Several large investors have recently added to or reduced their stakes in FMX. State Street Corp raised its stake in Fomento Economico Mexicano S.A.B. de C.V. by 11.2% in the fourth quarter. State Street Corp now owns 105,958 shares of the company’s stock valued at $8,075,000 after buying an additional 10,699 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Fomento Economico Mexicano S.A.B. de C.V. during the fourth quarter valued at $540,000. Harding Loevner LP raised its stake in Fomento Economico Mexicano S.A.B. de C.V. by 2.8% in the first quarter. Harding Loevner LP now owns 783,306 shares of the company’s stock valued at $69,338,000 after buying an additional 21,700 shares in the last quarter. Creative Planning raised its stake in Fomento Economico Mexicano S.A.B. de C.V. by 658.7% in the first quarter. Creative Planning now owns 2,534 shares of the company’s stock valued at $224,000 after buying an additional 2,200 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Fomento Economico Mexicano S.A.B. de C.V. during the first quarter valued at $257,000. Institutional investors own 23.86% of the company’s stock.

About Fomento Economico Mexicano S.A.B. de C.V.

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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Analyst Recommendations for Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX)

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