America Movil (NYSE:AMX) Stock Rating Lowered 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 analysts at Citigroup from a "buy" rating to a "neutral" rating in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $22.00 price target on the Wireless communications provider's stock, up from their previous price target of $20.00. Citigroup's price target points to a potential upside of 7.40% from the company's current price.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of America Movil from an "underweight" rating to a "neutral" rating and raised their price target for the company from $15.00 to $21.00 in a research note on Friday, August 8th. Wall Street Zen upgraded America Movil from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, UBS Group lifted their price objective on shares of America Movil from $20.40 to $21.10 and gave the company a "neutral" rating in a research note on Monday, July 28th. One research 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. Based on data from MarketBeat.com, America Movil has a consensus rating of "Moderate Buy" and a consensus target price of $18.77.

America Movil Stock Performance

NYSE:AMX traded up $0.15 during midday trading on Wednesday, reaching $20.49. 728,464 shares of the company traded hands, compared to its average volume of 2,172,474. The firm has a market capitalization of $61.86 billion, a price-to-earnings ratio of 21.81 and a beta of 0.85. The company has a fifty day moving average price of $18.74 and a 200 day moving average price of $17.02. 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 twelve month low of $13.10 and a twelve month high of $20.54.

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

Institutional Trading of America Movil

Hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its position in America Movil by 43.3% in the second quarter. Osaic Holdings Inc. now owns 42,231 shares of the Wireless communications provider's stock worth $737,000 after purchasing an additional 12,767 shares during the period. Geneos Wealth Management Inc. acquired a new position in America Movil in the second quarter worth $54,000. Rexford Capital Inc. bought a new stake in America Movil during the 2nd quarter worth about $198,000. Evergreen Capital Management LLC acquired a new stake in shares of America Movil in the second quarter valued at approximately $746,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of America Movil during the second quarter worth $145,000. 6.30% of the stock is owned by institutional investors.

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.