America Movil (NYSE:AMX) Downgraded by Citigroup to Neutral

Citigroup downgraded shares of America Movil (NYSE:AMX) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has $22.00 target price on the Wireless communications provider’s stock, up from their previous target price of $20.00.

AMX has been the subject of a number of other research reports. UBS Group raised their price target on shares of America Movil from $20.40 to $21.10 and gave the stock a “neutral” rating in a research report on Monday, July 28th. JPMorgan Chase & Co. raised shares of America Movil from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $15.00 to $21.00 in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of America Movil from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.77.

America Movil Price Performance

Shares of NYSE:AMX opened at $19.77 on Wednesday. The company has a market cap of $59.69 billion, a P/E ratio of 21.03 and a beta of 0.86. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 1.02. America Movil has a 52 week low of $13.10 and a 52 week high of $20.31. The business has a fifty day simple moving average of $18.67 and a 200-day simple moving average of $16.91.

America Movil (NYSE:AMX) last announced its quarterly earnings data on Tuesday, July 22nd. The Wireless communications provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.11). The company had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $233.77 billion. America Movil had a return on equity of 12.59% and a net margin of 6.11%. Equities research analysts forecast that America Movil will post 1.51 EPS for the current year.

America Movil Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, July 21st. Stockholders of record on Friday, July 11th were issued a dividend of $0.2732 per share. This represents a dividend yield of 300.0%. This is a positive change from America Movil’s previous semi-annual dividend of $0.24. The ex-dividend date of this dividend was Friday, July 11th. America Movil’s dividend payout ratio is presently 54.26%.

Institutional Investors Weigh In On America Movil

A number of hedge funds and other institutional investors have recently modified their holdings of AMX. Hilltop National Bank bought a new stake in America Movil in the second quarter worth about $27,000. Advantage Trust Co acquired a new position in shares of America Movil in the 2nd quarter worth $30,000. EverSource Wealth Advisors LLC grew its holdings in shares of America Movil by 142.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the Wireless communications provider’s stock worth $38,000 after acquiring an additional 1,235 shares during the last quarter. Garde Capital Inc. acquired a new position in shares of America Movil in the 1st quarter worth $40,000. Finally, Maseco LLP acquired a new position in shares of America Movil in the 2nd quarter worth $54,000. 6.30% of the stock is currently owned by institutional investors.

America Movil Company Profile

América Móvil, SAB. de C.V. provides telecommunications services in Latin America and internationally. The company offers wireless and fixed voice services, including airtime, local, domestic, and international long-distance services; and network interconnection services. It provides data services, such as data centers, data administration, and hosting services to residential and corporate clients; value-added services, including Internet access, messaging and other wireless entertainment, and corporate services; data transmission, email services, instant messaging, content streaming, and interactive applications; and wireless security services, mobile payment solutions, machine-to-machine services, mobile banking, virtual private network services, and video calls and personal communications services.