Scotiabank Trims América Móvil (NYSE:AMX) Target Price to $17.30

América Móvil (NYSE:AMX) had its target price reduced by Scotiabank from $17.80 to $17.30 in a research note published on Wednesday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the Wireless communications provider’s stock.

AMX has been the subject of a number of other reports. StockNews.com initiated coverage on América Móvil in a research note on Thursday, October 10th. They set a “strong-buy” rating for the company. UBS Group lowered their price target on América Móvil from $23.30 to $22.60 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group reduced their price objective on shares of América Móvil from $21.00 to $20.80 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.32.

América Móvil Stock Up 2.0 %

Shares of NYSE AMX opened at $16.77 on Wednesday. América Móvil has a 1 year low of $15.55 and a 1 year high of $20.31. The firm’s 50-day moving average is $16.57 and its 200-day moving average is $17.55. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $52.07 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95.

América Móvil (NYSE:AMX) last announced its quarterly earnings data on Tuesday, July 16th. The Wireless communications provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.36). The business had revenue of $11.93 billion during the quarter, compared to the consensus estimate of $12.37 billion. América Móvil had a net margin of 3.98% and a return on equity of 7.73%. Equities analysts expect that América Móvil will post 1.39 EPS for the current year.

América Móvil Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be paid a $0.245 dividend. The ex-dividend date is Friday, November 8th. This is a positive change from América Móvil’s previous dividend of $0.18. América Móvil’s payout ratio is presently 24.07%.

Institutional Investors Weigh In On América Móvil

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Ocean LLC bought a new position in América Móvil during the 1st quarter worth about $26,000. Sound Income Strategies LLC lifted its stake in América Móvil by 43.5% in the 1st quarter. Sound Income Strategies LLC now owns 3,466 shares of the Wireless communications provider’s stock valued at $65,000 after acquiring an additional 1,051 shares in the last quarter. Rothschild Investment LLC acquired a new position in América Móvil during the 2nd quarter worth approximately $59,000. Headlands Technologies LLC grew its stake in shares of América Móvil by 448.5% during the 1st quarter. Headlands Technologies LLC now owns 4,328 shares of the Wireless communications provider’s stock worth $81,000 after acquiring an additional 3,539 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of América Móvil by 32.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,177 shares of the Wireless communications provider’s stock valued at $153,000 after purchasing an additional 2,007 shares during the last quarter. 6.30% of the stock is currently owned by institutional investors and hedge funds.

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.