Scotiabank Issues Positive Forecast for America Movil (NYSE:AMX) Stock Price

America Movil (NYSE:AMX) had its price target increased by Scotiabank from $19.50 to $21.80 in a research report sent to investors on Monday,Benzinga reports. They currently have a sector perform rating on the Wireless communications provider’s stock.

A number of other research firms have also weighed in on AMX. JPMorgan Chase & Co. upped their price objective on America Movil from $23.50 to $24.50 and gave the stock a “neutral” rating in a research report on Wednesday, March 11th. UBS Group reaffirmed a “buy” rating and issued a $30.00 price target (up from $23.60) on shares of America Movil in a report on Tuesday, February 24th. Bank of America started coverage on America Movil in a research note on Thursday, December 11th. They issued a “neutral” rating and a $26.00 price objective for the company. Santander cut shares of America Movil from an “outperform” rating to a “neutral” rating in a report on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of America Movil in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.73.

America Movil Stock Performance

NYSE:AMX opened at $24.62 on Monday. The company’s 50-day moving average is $23.29 and its two-hundred day moving average is $22.19. America Movil has a 1-year low of $13.10 and a 1-year high of $26.16. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.74 and a quick ratio of 0.68. The firm has a market capitalization of $74.23 billion, a price-to-earnings ratio of 17.22 and a beta of 0.72.

America Movil (NYSE:AMX) last announced its quarterly earnings results on Thursday, February 12th. The Wireless communications provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). America Movil had a return on equity of 18.92% and a net margin of 8.78%.The firm had revenue of $13.59 billion for the quarter, compared to analyst estimates of $13.09 billion. Analysts forecast that America Movil will post 1.51 EPS for the current year.

Institutional Trading of America Movil

A number of institutional investors have recently bought and sold shares of AMX. Trust Co. of Vermont acquired a new position in America Movil during the third quarter worth about $31,000. Camelot Portfolios LLC acquired a new position in shares of America Movil in the fourth quarter valued at approximately $31,000. Atlas Capital Advisors Inc. purchased a new position in shares of America Movil during the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its position in America Movil by 142.3% during the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the Wireless communications provider’s stock worth $38,000 after buying an additional 1,235 shares during the period. Finally, Beacon Financial Strategies CORP acquired a new stake in America Movil in the 4th quarter worth about $43,000. 6.30% of the stock is currently owned by hedge funds and other institutional investors.

America Movil Company Profile

América Móvil is a Mexican telecommunications company headquartered in Mexico City that provides a broad range of communications services. Established in the early 2000s out of the expansion of the Slim family’s telecommunications holdings, the company is a major provider of mobile and fixed-line telephony, broadband internet and pay-television services in the region. Its operations span retail consumer services as well as wholesale and enterprise solutions, positioning it as an integrated communications provider across multiple customer segments.

The company markets services under several regional brands—most notably Telcel in Mexico and Claro across many Latin American markets—and offers both prepaid and postpaid mobile plans, fixed and mobile broadband, fiber-to-the-home where available, and video/broadcast distribution services.