Grupo Aeroportuario del Sureste S A B de C VNYSE: ASR

MONTERREY, Mexico, June 10, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announces today that it has entered into a new derivative instrument in the form of an accelerated share repurchase transaction (“ASR”) to repurchase the Company's American Depositary Shares (“ADSs”)1. Under the terms of this new ASR, FEMSA has agreed to repurchase up to USD $600 million of its ADSs. The total number of ADSs ultimately repurchased under this ASR will be based on the daily volume-weighted average price of the Company's ADSs during the term of the ASR and subject to certain limitations. The final settlement of the ASR is expected to be completed, at the latest, in the fourth quarter of 2024.

Here is how Grupo Aeroportuario del Sureste (ASR) and Ryanair (RYAAY) have fared in comparison to their industry during the current year.

Now is a fantastic opportunity to consider investing in stocks within the travel and hospitality sectors, which were temporarily impacted by the COVID-19 pandemic.

ASR stock has performed well, outperforming the broader market with a 21.7% return. ASR reports lower revenues and EBITDA, but adjusted figures show positive growth. ASR's 2024-2028 investment plan and tariff increases suggest significant upside for ASR stock.

These stocks still look attractive, and they could provide decades of strong returns.

Here is how Grupo Aeroportuario del Sureste (ASR) and EuroDry (EDRY) have performed compared to their sector so far this year.

RYI, SIEGY and ASR made it to the Zacks Rank #1 (Strong Buy) income stocks list on December 18, 2023.

FMX and ASR made it to the Zacks Rank #1 (Strong Buy) income stocks list on November 17, 2023.

Investors interested in Transportation - Services stocks are likely familiar with Grupo Aeroportuario del Sureste (ASR) and RXO (RXO). But which of these two stocks presents investors with the better value opportunity right now?