America Movil (NYSE:AMX) Releases Quarterly Earnings Results, Misses Estimates By $0.50 EPS

Key Points

• America Movil missed earnings expectations, reporting $0.02 EPS versus analysts’ forecast of $0.52, a shortfall of $0.50 per share.
• Revenue came in ahead of estimates at $14.07 billion, topping the consensus estimate of $13.72 billion.
• The company announced a special dividend of $0.3078 per share, payable on July 22 to shareholders of record on July 14.

America Movil (NYSE:AMX - Get Free Report) posted its earnings results on Tuesday. The Wireless communications provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.50), FiscalAI reports. The company had revenue of $14.07 billion for the quarter, compared to analyst estimates of $13.72 billion. America Movil had a return on equity of 19.77% and a net margin of 9.23%.

America Movil Stock Performance

Shares of NYSE:AMX traded down $0.01 on Wednesday, reaching $26.07. 2,895,442 shares of the company's stock were exchanged, compared to its average volume of 1,856,423. The company has a fifty day moving average of $26.15 and a 200-day moving average of $24.66. America Movil has a twelve month low of $17.05 and a twelve month high of $28.46. The company has a market capitalization of $78.49 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.83 and a beta of 0.66. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.97.

America Movil Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Tuesday, July 14th will be issued a $0.3078 dividend. The ex-dividend date of this dividend is Tuesday, July 14th. America Movil's payout ratio is currently 37.58%.

Analysts Set New Price Targets

Several research firms have weighed in on AMX. JPMorgan Chase & Co. increased their price target on shares of America Movil from $24.50 to $30.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. New Street Research restated a "buy" rating and set a $35.00 price objective on shares of America Movil in a report on Wednesday, June 17th. UBS Group upped their target price on America Movil to $31.50 and gave the company a "buy" rating in a research report on Thursday, April 23rd. The Goldman Sachs Group assumed coverage on America Movil in a research note on Monday, May 18th. They set a "buy" rating and a $31.80 target price on the stock. Finally, Scotiabank dropped their price target on America Movil from $21.80 to $20.80 and set a "sector perform" rating for the company in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $28.16.

Institutional Investors Weigh In On America Movil

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC bought a new position in America Movil during the 4th quarter worth $154,000. Royal Bank of Canada lifted its position in shares of America Movil by 16.9% during the 1st quarter. Royal Bank of Canada now owns 375,504 shares of the Wireless communications provider's stock valued at $5,339,000 after acquiring an additional 54,152 shares during the period. Jones Financial Companies Lllp lifted its position in shares of America Movil by 2,189.8% during the 1st quarter. Jones Financial Companies Lllp now owns 23,241 shares of the Wireless communications provider's stock valued at $330,000 after acquiring an additional 22,226 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of America Movil by 15.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 778,584 shares of the Wireless communications provider's stock worth $11,071,000 after purchasing an additional 102,545 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of America Movil by 9.5% in the first quarter. Jane Street Group LLC now owns 50,584 shares of the Wireless communications provider's stock worth $719,000 after purchasing an additional 4,373 shares during the period. 6.30% of the stock is currently owned by institutional investors and hedge funds.

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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