America Movil (NYSE:AMX) Downgraded to Neutral Rating by Citigroup

Key Points

• America Movil has been downgraded by Citigroup from a "buy" rating to a "neutral" rating, with a target price of $22.00, indicating a potential upside of 11.03% from its current price.
• Other analysts, including JPMorgan and UBS Group, have also upgraded or adjusted their ratings for America Movil, contributing to an overall average rating of "Moderate Buy" with a target price of $18.77.
• America Movil's stock opened at $19.81, and the company recently reported earnings of $0.38 per share, missing estimates of $0.49 by $0.11.

America Movil (NYSE:AMX - Get Free Report) was downgraded by equities research analysts at Citigroup from a "buy" rating to a "neutral" rating in a report released on Wednesday, Marketbeat.com reports. They presently have a $22.00 target price on the Wireless communications provider's stock, up from their previous target price of $20.00. Citigroup's target price would indicate a potential upside of 8.27% from the company's previous close.

Other analysts also recently issued reports about the company. Wall Street Zen upgraded America Movil from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. upgraded America Movil from an "underweight" rating to a "neutral" rating and increased their target price for the company from $15.00 to $21.00 in a research note on Friday, August 8th. Finally, UBS Group increased their target price on America Movil from $20.40 to $21.10 and gave the company a "neutral" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.77.

America Movil Trading Up 0.4%

AMX traded up $0.09 during midday trading on Wednesday, reaching $20.32. 2,289,527 shares of the company's stock traded hands, compared to its average volume of 1,851,043. The firm has a fifty day moving average of $18.74 and a two-hundred day moving average of $16.99. The stock has a market capitalization of $61.37 billion, a price-to-earnings ratio of 21.62 and a beta of 0.86. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.75 and a quick ratio of 0.70. America Movil has a 52 week low of $13.10 and a 52 week high of $20.47.

America Movil (NYSE:AMX - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The Wireless communications provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.11). America Movil had a return on equity of 12.59% and a net margin of 6.11%.The firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $233.77 billion. On average, equities analysts anticipate that America Movil will post 1.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hilltop National Bank purchased a new position in America Movil in the second quarter worth about $27,000. Advantage Trust Co purchased a new position in America Movil in the second quarter worth about $30,000. EverSource Wealth Advisors LLC grew its position in America Movil by 142.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the Wireless communications provider's stock worth $38,000 after acquiring an additional 1,235 shares in the last quarter. Garde Capital Inc. purchased a new position in America Movil in the first quarter worth about $40,000. Finally, Maseco LLP purchased a new position in America Movil in the second quarter worth about $54,000. Hedge funds and other institutional investors own 6.30% of the company's stock.

America Movil 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.