America Movil (NYSE:AMX) Stock Price Expected to Rise, Scotiabank Analyst Says

America Movil (NYSE:AMX) had its price objective upped by Scotiabank from $17.10 to $19.50 in a research note issued on Thursday, Marketbeat Ratings reports. The firm presently has a “sector perform” rating on the Wireless communications provider’s stock. Scotiabank’s price objective would suggest a potential downside of 13.20% from the stock’s previous close.

AMX has been the topic of a number of other reports. The Goldman Sachs Group lifted their price target on America Movil from $21.40 to $23.20 and gave the stock a “buy” rating in a report on Monday, October 6th. Wall Street Zen raised America Movil from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Weiss Ratings reissued a “hold (c)” rating on shares of America Movil in a research report on Wednesday, October 8th. Citigroup downgraded America Movil from a “buy” rating to a “neutral” rating and raised their target price for the stock from $20.00 to $22.00 in a research report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. raised America Movil from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $15.00 to $21.00 in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.13.

America Movil Stock Performance

Shares of America Movil stock opened at $22.47 on Thursday. The business’s fifty day simple moving average is $20.29 and its 200 day simple moving average is $18.13. The firm has a market capitalization of $67.84 billion, a P/E ratio of 18.26 and a beta of 0.88. America Movil has a 12 month low of $13.10 and a 12 month high of $22.70. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 1.02.

America Movil (NYSE:AMX) last issued its quarterly earnings results on Wednesday, October 15th. The Wireless communications provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $12.71 billion for the quarter, compared to analyst estimates of $235.15 billion. America Movil had a return on equity of 17.06% and a net margin of 7.87%. As a group, analysts anticipate that America Movil will post 1.51 EPS for the current year.

Institutional Trading of America Movil

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. raised its stake in shares of America Movil by 2.8% during the 2nd quarter. Whittier Trust Co. now owns 21,198 shares of the Wireless communications provider’s stock valued at $380,000 after purchasing an additional 582 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of America Movil by 0.4% during the 1st quarter. Crossmark Global Holdings Inc. now owns 148,779 shares of the Wireless communications provider’s stock valued at $2,116,000 after purchasing an additional 585 shares during the period. Profund Advisors LLC raised its stake in shares of America Movil by 1.7% during the 2nd quarter. Profund Advisors LLC now owns 39,561 shares of the Wireless communications provider’s stock valued at $710,000 after purchasing an additional 666 shares during the period. MAI Capital Management grew its position in America Movil by 2.4% during the second quarter. MAI Capital Management now owns 29,097 shares of the Wireless communications provider’s stock worth $522,000 after buying an additional 680 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in America Movil by 21.9% during the first quarter. Farther Finance Advisors LLC now owns 3,813 shares of the Wireless communications provider’s stock worth $55,000 after buying an additional 685 shares in the last quarter. 6.30% of the stock is currently owned by institutional investors.

About America Movil

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.