JPMorgan Chase & Co. Issues Positive Forecast for America Movil (NYSE:AMX) Stock Price

America Movil (NYSE:AMX) had its target price increased by JPMorgan Chase & Co. from $23.50 to $24.50 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the Wireless communications provider’s stock.

AMX has been the topic of a number of other reports. UBS Group reissued a “buy” rating and set a $30.00 price target (up from $23.60) on shares of America Movil in a research report on Tuesday, February 24th. Santander lowered shares of America Movil from an “outperform” rating to a “neutral” rating in a research note on Friday, December 12th. Bank of America started coverage on shares of America Movil in a research report on Thursday, December 11th. They set a “neutral” rating and a $26.00 target price on the stock. Zacks Research lowered America Movil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of America Movil in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.40.

America Movil Stock Down 0.8%

Shares of NYSE:AMX opened at $23.72 on Wednesday. The business’s 50 day moving average is $22.36 and its 200 day moving average is $21.79. America Movil has a 12-month low of $13.10 and a 12-month high of $26.16. The stock has a market cap of $71.52 billion, a price-to-earnings ratio of 16.59 and a beta of 0.72. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.01.

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

Institutional Investors Weigh In On America Movil

Several large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its holdings in America Movil by 8.8% during the third quarter. Lazard Asset Management LLC now owns 17,703,513 shares of the Wireless communications provider’s stock valued at $371,774,000 after purchasing an additional 1,430,626 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of America Movil by 93.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 8,376,918 shares of the Wireless communications provider’s stock valued at $173,151,000 after purchasing an additional 4,053,838 shares during the period. Boston Partners raised its position in shares of America Movil by 7.3% in the fourth quarter. Boston Partners now owns 4,835,629 shares of the Wireless communications provider’s stock valued at $99,952,000 after purchasing an additional 326,890 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of America Movil by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,215,162 shares of the Wireless communications provider’s stock valued at $87,129,000 after buying an additional 71,182 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of America Movil by 9.8% during the 4th quarter. Morgan Stanley now owns 3,970,788 shares of the Wireless communications provider’s stock valued at $82,076,000 after buying an additional 353,632 shares in the last quarter. Hedge funds and other institutional investors own 6.30% of the company’s stock.

About America Movil

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.