America Movil (NYSE:AMX) Stock Rating Upgraded by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has upgraded América Móvil's stock rating from "underweight" to "neutral," with a new price target of $21.00, indicating a potential upside of 10.66% from its previous close.
• América Móvil's recent earnings report showed an earnings per share of $0.38, missing estimates by $0.11, with revenues of $12.50 billion for the quarter.
• Institutional investors have recently increased their holdings in América Móvil, with Bank of America boosting its stake by 278.8% in the fourth quarter alone.

JPMorgan Chase & Co. upgraded shares of America Movil (NYSE:AMX - Free Report) from an underweight rating to a neutral rating in a report issued on Friday morning, MarketBeat reports. The brokerage currently has $21.00 target price on the Wireless communications provider's stock, up from their previous target price of $15.00.

AMX has been the subject of several other reports. Hsbc Global Res upgraded America Movil from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. UBS Group increased their target price on America Movil from $20.40 to $21.10 and gave the company a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen raised America Movil from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, HSBC upgraded America Movil from a "hold" rating to a "buy" rating and increased their price objective for the company from $15.50 to $17.50 in a research report on Monday, April 14th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, America Movil has an average rating of "Moderate Buy" and a consensus price target of $18.12.

America Movil Stock Performance

NYSE AMX traded up $0.10 during trading on Friday, hitting $19.07. 1,656,956 shares of the company's stock traded hands, compared to its average volume of 1,750,989. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.70 and a current ratio of 0.75. The stock has a market capitalization of $57.59 billion, a price-to-earnings ratio of 20.29 and a beta of 0.80. America Movil has a 12-month low of $13.10 and a 12-month high of $19.30. The business has a 50 day moving average of $17.62 and a 200-day moving average of $16.12.

America Movil (NYSE:AMX - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The Wireless communications provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.11). America Movil had a net margin of 6.11% and a return on equity of 12.59%. The business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $233.77 billion. As a group, equities research analysts anticipate that America Movil will post 1.51 earnings per share for the current fiscal year.

America Movil Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, July 21st. Stockholders of record on Friday, July 11th were paid a dividend of $0.2732 per share. This represents a dividend yield of 300.0%. The ex-dividend date of this dividend was Friday, July 11th. This is a positive change from America Movil's previous semi-annual dividend of $0.24. America Movil's payout ratio is presently 54.26%.

Hedge Funds Weigh In On America Movil

A number of institutional investors have recently bought and sold shares of AMX. Lazard Asset Management LLC boosted its stake in America Movil by 12.6% during the fourth quarter. Lazard Asset Management LLC now owns 14,089,624 shares of the Wireless communications provider's stock worth $201,621,000 after acquiring an additional 1,571,290 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of America Movil by 278.8% during the fourth quarter. Bank of America Corp DE now owns 10,216,018 shares of the Wireless communications provider's stock valued at $146,191,000 after purchasing an additional 7,519,147 shares during the last quarter. Boston Partners boosted its position in shares of America Movil by 6,421.7% in the 2nd quarter. Boston Partners now owns 4,127,267 shares of the Wireless communications provider's stock worth $74,043,000 after purchasing an additional 4,063,982 shares in the last quarter. First Trust Advisors LP grew its stake in shares of America Movil by 1.7% in the 4th quarter. First Trust Advisors LP now owns 2,999,200 shares of the Wireless communications provider's stock worth $42,919,000 after buying an additional 48,849 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in America Movil by 23.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 1,956,400 shares of the Wireless communications provider's stock valued at $35,098,000 after buying an additional 371,300 shares in the last quarter. 6.30% of the stock is owned by institutional investors.

About America Movil

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.