América Móvil (NYSE:AMX) Price Target Cut to $17.80

América Móvil (NYSE:AMX) had its target price dropped by stock analysts at Scotiabank from $18.90 to $17.80 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the Wireless communications provider’s stock. Scotiabank’s price target would indicate a potential upside of 10.70% from the stock’s previous close.

Other analysts also recently issued research reports about the company. UBS Group decreased their target price on América Móvil from $23.30 to $22.60 and set a “buy” rating on the stock in a research note on Thursday, July 18th. StockNews.com upgraded shares of América Móvil from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.23.

América Móvil Price Performance

NYSE AMX opened at $16.08 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 0.98. América Móvil has a 12 month low of $15.55 and a 12 month high of $20.31. The stock has a market cap of $49.93 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.98 and a beta of 0.95. The company’s 50 day moving average is $16.86 and its two-hundred day moving average is $17.88.

América Móvil (NYSE:AMX) last issued its earnings results on Tuesday, July 16th. The Wireless communications provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.36). América Móvil had a return on equity of 7.73% and a net margin of 3.98%. The firm had revenue of $11.93 billion during the quarter, compared to the consensus estimate of $12.37 billion. As a group, research analysts anticipate that América Móvil will post 1.39 earnings per share for the current year.

Institutional Investors Weigh In On América Móvil

A number of hedge funds have recently bought and sold shares of AMX. Capital International Investors increased its holdings in shares of América Móvil by 4.4% in the 1st quarter. Capital International Investors now owns 65,339,145 shares of the Wireless communications provider’s stock worth $1,219,228,000 after buying an additional 2,741,127 shares during the last quarter. Lazard Asset Management LLC raised its position in América Móvil by 9.9% during the first quarter. Lazard Asset Management LLC now owns 12,528,301 shares of the Wireless communications provider’s stock valued at $233,777,000 after purchasing an additional 1,128,671 shares during the period. Schroder Investment Management Group raised its position in América Móvil by 178.8% during the fourth quarter. Schroder Investment Management Group now owns 9,821,322 shares of the Wireless communications provider’s stock valued at $181,891,000 after purchasing an additional 6,298,239 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of América Móvil by 3.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,528,360 shares of the Wireless communications provider’s stock valued at $159,139,000 after purchasing an additional 245,113 shares during the last quarter. Finally, Capital International Inc. CA boosted its holdings in shares of América Móvil by 9.5% in the 1st quarter. Capital International Inc. CA now owns 2,986,890 shares of the Wireless communications provider’s stock worth $55,735,000 after purchasing an additional 258,203 shares during the period. Hedge funds and other institutional investors own 6.30% of the company’s stock.

América Móvil 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.