America Movil (NYSE:AMX) Sets New 1-Year High After Analyst Upgrade

Key Points

• America Movil hit a 52-week high intraday after New Street Research upgraded the stock from neutral to buy, trading as high as $26.71 and last around $26.41 on about 194,289 shares.
• Analyst views are mixed—several firms have raised price targets (UBS to $30, Scotiabank to $21.80, JPMorgan to $24.50) and issued upgrades, but MarketBeat shows a consensus rating of Hold with an average target of $23.73.
• Institutional buying has increased (Robeco +93.8% to 8.38M shares; Lazard holds 17.7M shares) while the company has a $79.6B market cap and P/E of 18.48; it recently missed EPS estimates ($0.35 vs. $0.43) but beat revenue forecasts.

America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday after New Street Research upgraded the stock from a neutral rating to a buy rating. The company traded as high as $26.71 and last traded at $26.4070, with a volume of 194289 shares traded. The stock had previously closed at $25.69.

Other research analysts also recently issued reports about the company. Scotiabank increased their price objective on America Movil from $19.50 to $21.80 and gave the stock a "sector perform" rating in a report on Monday, March 30th. Wall Street Zen upgraded America Movil from a "buy" rating to a "strong-buy" rating in a research note on Saturday, January 17th. Santander downgraded America Movil from an "outperform" rating to a "neutral" rating in a research note on Friday, December 12th. JPMorgan Chase & Co. raised their price target on America Movil from $23.50 to $24.50 and gave the company a "neutral" rating in a research note on Wednesday, March 11th. Finally, UBS Group restated a "buy" rating and issued a $30.00 price target (up from $23.60) on shares of America Movil in a research note on Tuesday, February 24th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $23.73.

Institutional Trading of America Movil

Several hedge funds have recently added to or reduced their stakes in AMX. Robeco Institutional Asset Management B.V. lifted its holdings in America Movil by 93.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 8,376,918 shares of the Wireless communications provider's stock worth $173,151,000 after purchasing an additional 4,053,838 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in 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 last quarter. Nan Fung Trinity HK Ltd. lifted its holdings in America Movil by 352.2% during the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 1,433,900 shares of the Wireless communications provider's stock worth $30,112,000 after purchasing an additional 1,116,800 shares during the last quarter. American Century Companies Inc. lifted its holdings in America Movil by 79.4% during the 3rd quarter. American Century Companies Inc. now owns 2,445,349 shares of the Wireless communications provider's stock worth $51,352,000 after purchasing an additional 1,082,493 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in America Movil during the 2nd quarter worth approximately $11,252,000. 6.30% of the stock is owned by institutional investors and hedge funds.

America Movil Stock Performance

The firm has a market capitalization of $79.56 billion, a price-to-earnings ratio of 18.48 and a beta of 0.71. The company has a fifty day moving average of $23.86 and a two-hundred day moving average of $22.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.68 and a current ratio of 0.74.

America Movil (NYSE:AMX - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The Wireless communications provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). America Movil had a return on equity of 18.92% and a net margin of 8.78%.The firm had revenue of $13.59 billion for the quarter, compared to analyst estimates of $13.09 billion. As a group, equities research analysts predict that America Movil, S.A.B. de C.V. Unsponsored ADR will post 1.51 earnings per share for the current fiscal year.

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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