The Growing Business Sector You Need to Know About
Wednesday, January 23rd, 2008
By George Leong, B.Comm. for Profit Confidential
The number of Hispanic businesses in the United States is growing and you should consider benefiting from this. Sales derived from Hispanic-owned firms are estimated to reach three-hundred and thirty one billion dollars in 2007 and then steadily grow to five- hundred and thirty-nine billion dollars by 2012, according to research by HispanTelligence, the research division of Hispanic Business Inc. According to the report, the three major areas of Hispanic business include retail, wholesale trade, and construction.
The importance of Hispanic businesses and the Hispanic consumer cannot be ignored. The trend clearly indicates their rising importance in the everyday fabric of American business. Hispanics as a group accounted for over 13% of the U.S. population. As an investor, there are many opportunities to play the significant growth in this key consumer group.
In December 2003, Hispanic-owned investment bank Ramirez & Co, launched the first major index of Hispanic stocks listed in the US. The Ramirez & Co Hispanic index comprises about 10 companies.
The fact of the matter is that the Hispanic community is significant and stocks that cater to this consumer group could win big going forward.
As far as U.S.-listed stocks with a Hispanic orientation, I have provided a list and their descriptions below. The stocks should not be construed as an endorsement and the list is only for information purposes. I advise more due diligence in examining these companies.
Entravision Communications Corporation (NYSE/EVC) is a Spanish-language media company that targets U.S. Hispanics.
First BanCorp (NYSE/FBP) is a financial holding company operating in Puerto Rico and the Virgin Islands.
Gruma S.A.B. de C.V. (NYSE/GMK) produces and distributes corn flour and tortillas.
International Bancshares Corporation (NASDAQ/IBOC) is a financial holding company comprised of four banks in south and southeast Texas.
MetroCorp Bancshares, Inc. (NASDAQ/MCBI) is a Houston- based bank with a Hispanic customer base.
Popular, Inc. (NASDAQ/BPOP) provides financial services in Puerto Rico, the United States, the Caribbean and Latin America
Spanish Broadcasting System, Inc. (NASDAQ/SBSA) is a Hispanic-controlled radio broadcasting company with stations across the United States.
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George is a Senior Editor at Lombardi Financial, and has been involved in analyzing the stock markets for two decades where he employs both fundamental and technical analysis. His overall market timing and trading knowledge is extensive in the areas of small-cap research and option trading. George is the editor of several of Lombardi’s popular financial newsletters, including The China Letter, Special Situations, and Obscene Profits, among others. His trading advice on stocks and options is also found on his daily trading site, Daily Profits. He has written technical and fundamental columns for numerous stock market news web sites, and he is the author of Quick Wealth Options Strategy and Mastering 7 Proven Options Strategies. Prior to starting with Lombardi Financial, George was employed as a financial analyst with Globe Information Services.
