America Movil (NYSE:AMX) Given New $21.80 Price Target at Scotiabank

Key Points

• Scotiabank raised its price target on America Movil to $21.80 (from $19.50) and kept a sector perform rating — the new target implies roughly an 11.74% downside from the current share price.
• Analyst coverage is mixed: three analysts rate the stock a Buy and seven rate it a Hold, resulting in an average rating of Hold and a consensus target price of $23.73.
• Shares traded at $24.70; the company reported Q4 EPS of $0.35 (missing the $0.43 estimate) while revenue beat at $13.59 billion, and the stock has a market cap of $74.47 billion with a P/E of 17.28.

America Movil (NYSE:AMX - Get Free Report) had its price objective raised by equities researchers at Scotiabank from $19.50 to $21.80 in a research report issued on Monday,Benzinga reports. The firm currently has a "sector perform" rating on the Wireless communications provider's stock. Scotiabank's price objective indicates a potential downside of 11.74% from the company's current price.

Several other equities research analysts have also recently issued reports on AMX. Santander cut America Movil from an "outperform" rating to a "neutral" rating in a report on Friday, December 12th. Bank of America assumed coverage on shares of America Movil in a report on Thursday, December 11th. They issued a "neutral" rating and a $26.00 target price for the company. Wall Street Zen upgraded shares of America Movil from a "buy" rating to a "strong-buy" rating in a research report on Saturday, January 17th. UBS Group reaffirmed a "buy" rating and set a $30.00 price objective (up from $23.60) on shares of America Movil in a research note on Tuesday, February 24th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of America Movil in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, America Movil presently has an average rating of "Hold" and a consensus target price of $23.73.

America Movil Price Performance

AMX stock traded down $0.11 during trading on Monday, reaching $24.70. The company's stock had a trading volume of 233,865 shares, compared to its average volume of 2,418,785. The company has a market capitalization of $74.47 billion, a P/E ratio of 17.28 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. The company's fifty day moving average is $23.21 and its 200-day moving average is $22.15. America Movil has a 1 year low of $13.10 and a 1 year high of $26.16.

America Movil (NYSE:AMX - Get Free Report) last issued its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). The business had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.09 billion. America Movil had a net margin of 8.78% and a return on equity of 18.92%. On average, research analysts expect that America Movil will post 1.51 earnings per share for the current fiscal year.

Institutional Trading of America Movil

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC raised its position in shares of America Movil by 8.8% during the 3rd quarter. Lazard Asset Management LLC now owns 17,703,513 shares of the Wireless communications provider's stock worth $371,774,000 after purchasing an additional 1,430,626 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in 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 buying an additional 4,053,838 shares during the last quarter. Boston Partners boosted its holdings in shares of America Movil by 7.3% during the fourth quarter. Boston Partners now owns 4,835,629 shares of the Wireless communications provider's stock valued at $99,952,000 after acquiring an additional 326,890 shares during the period. Dimensional Fund Advisors LP grew its position in shares of America Movil by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,215,162 shares of the Wireless communications provider's stock worth $87,129,000 after acquiring an additional 71,182 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of America Movil by 9.8% in the 4th quarter. Morgan Stanley now owns 3,970,788 shares of the Wireless communications provider's stock worth $82,076,000 after acquiring an additional 353,632 shares during the period. 6.30% of the stock is owned by hedge funds and other institutional investors.

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.

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