America Movil (NYSE:AMX) Reaches New 1-Year High - Here's What Happened

Key Points

• America Movil's stock reached a new 52-week high of $20.72 during trading, indicating strong market interest and performance.
• Several analysts have recently changed their ratings on the stock, with Citigroup downgrading it to "neutral" but raising its target price to $22.00.
• The company reported earnings that fell short of expectations, with an EPS of $0.38, missing the consensus estimate by $0.11.

America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $20.72 and last traded at $20.62, with a volume of 93945 shares. The stock had previously closed at $20.41.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. upgraded America Movil from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $15.00 to $21.00 in a research report on Friday, August 8th. Citigroup cut shares of America Movil from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $20.00 to $22.00 in a research note on Wednesday, September 10th. UBS Group boosted 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. Finally, Wall Street Zen raised shares of America Movil from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $18.77.

America Movil Stock Down 1.4%

The firm's 50 day simple moving average is $19.01 and its 200 day simple moving average is $17.22. The company has a market cap of $60.79 billion, a price-to-earnings ratio of 21.41 and a beta of 0.86. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 1.02.

America Movil (NYSE:AMX - Get Free Report) last announced 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 during the quarter, compared to analyst estimates of $233.77 billion. America Movil had a net margin of 6.11% and a return on equity of 12.59%. Sell-side analysts anticipate that America Movil, S.A.B. de C.V. Unsponsored ADR will post 1.51 EPS for the current fiscal year.

Institutional Trading of America Movil

Large investors have recently added to or reduced their stakes in the business. Hilltop National Bank acquired a new position in America Movil in the 2nd quarter worth approximately $27,000. Advantage Trust Co acquired a new position in America Movil in the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted its stake in America Movil by 142.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the Wireless communications provider's stock worth $38,000 after purchasing an additional 1,235 shares during the period. Garde Capital Inc. acquired a new position in America Movil in the 1st quarter worth approximately $40,000. Finally, Maseco LLP acquired a new position in America Movil in the 2nd quarter worth approximately $54,000. 6.30% of the stock is currently 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.