JPMorgan Chase & Co. Upgrades America Movil (NYSE:AMX) to Neutral

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 research report sent to investors on Friday, MarketBeat Ratings reports. They currently have $21.00 price target on the Wireless communications provider's stock, up from their previous price target of $15.00.

A number of other brokerages have also recently commented on AMX. Wall Street Zen raised America Movil from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. UBS Group boosted 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. Hsbc Global Res raised America Movil from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Finally, HSBC raised America Movil from a "hold" rating to a "buy" rating and boosted their target price for the company from $15.50 to $17.50 in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, America Movil presently has an average rating of "Moderate Buy" and a consensus target price of $18.12.

America Movil Trading Down 0.0%

Shares of America Movil stock traded down $0.00 during trading on Friday, reaching $19.07. 857,259 shares of the company were exchanged, compared to its average volume of 2,207,790. 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 has a twelve month low of $13.10 and a twelve month high of $19.30. The business has a 50-day moving average price of $17.66 and a 200-day moving average price of $16.17. The firm has a market capitalization of $57.58 billion, a price-to-earnings ratio of 20.28 and a beta of 0.80.

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

America Movil Increases Dividend

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

Hedge Funds Weigh In On America Movil

A number of large investors have recently bought and sold shares of the company. Whittier Trust Co. boosted its position in America Movil by 2.8% during the 2nd quarter. Whittier Trust Co. now owns 21,198 shares of the Wireless communications provider's stock worth $380,000 after acquiring an additional 582 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in America Movil by 0.4% during the first quarter. Crossmark Global Holdings Inc. now owns 148,779 shares of the Wireless communications provider's stock worth $2,116,000 after acquiring an additional 585 shares in the last quarter. Profund Advisors LLC raised its holdings in America Movil by 1.7% during the second quarter. Profund Advisors LLC now owns 39,561 shares of the Wireless communications provider's stock worth $710,000 after acquiring an additional 666 shares in the last quarter. MAI Capital Management raised its holdings in America Movil by 2.4% during the second quarter. MAI Capital Management now owns 29,097 shares of the Wireless communications provider's stock worth $522,000 after acquiring an additional 680 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in America Movil by 21.9% during the first quarter. Farther Finance Advisors LLC now owns 3,813 shares of the Wireless communications provider's stock worth $55,000 after acquiring an additional 685 shares in the last quarter. Institutional investors and hedge funds own 6.30% of the company's stock.

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.