America Movil (NYSE:AMX) Upgraded by JPMorgan Chase & Co. to "Overweight" Rating

Key Points

• JPMorgan upgraded América Móvil from “neutral” to “overweight” and raised its price target from $30 to $32, implying approximately 35.25% upside from the current share price.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $28.44; targets from other firms range as high as $35.
• América Móvil reported quarterly revenue of $13.78 billion and earnings per share of $0.46, while institutional investors and hedge funds own 6.3% of the company.

America Movil (NYSE:AMX - Get Free Report) was upgraded by JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a report issued on Tuesday,Benzinga reports. The brokerage presently has a $32.00 price objective on the Wireless communications provider's stock, up from their prior price objective of $30.00. JPMorgan Chase & Co.'s price objective suggests a potential upside of 35.25% from the company's current price.

AMX has been the subject of a number of other research reports. UBS Group boosted their price objective on shares of America Movil to $31.50 and gave the company a "buy" rating in a report on Thursday, April 23rd. Scotiabank dropped their price target on shares of America Movil from $21.80 to $20.80 and set a "sector perform" rating on the stock in a research report on Wednesday, May 27th. New Street Research reiterated a "buy" rating and issued a $35.00 price objective on shares of America Movil in a research note on Wednesday, June 17th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of America Movil in a report on Thursday. Finally, The Goldman Sachs Group began coverage on America Movil in a research note on Monday, May 18th. They issued a "buy" rating and a $31.80 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $28.44.

America Movil Trading Up 0.9%

Shares of AMX opened at $23.66 on Tuesday. The company has a market capitalization of $71.10 billion, a P/E ratio of 14.25, a P/E/G ratio of 0.75 and a beta of 0.65. The stock has a 50-day moving average price of $25.61 and a 200 day moving average price of $25.20. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.71. America Movil has a one year low of $18.99 and a one year high of $28.46.

America Movil (NYSE:AMX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The Wireless communications provider reported $0.46 earnings per share for the quarter. America Movil had a net margin of 9.38% and a return on equity of 20.33%. The business had revenue of $13.78 billion during the quarter. Sell-side analysts forecast that America Movil will post 1.92 EPS for the current fiscal year.

Hedge Funds Weigh In On America Movil

A number of hedge funds have recently added to or reduced their stakes in AMX. Trust Co. of Vermont bought a new stake in shares of America Movil during the 2nd quarter worth $39,000. Camelot Portfolios LLC acquired a new position in America Movil during the 4th quarter worth $31,000. Atlas Capital Advisors Inc. acquired a new position in America Movil in the fourth quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its position in shares of 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 valued at $38,000 after purchasing an additional 1,235 shares during the period. Finally, Arax Advisory Partners boosted its holdings in America Movil by 34.0% during the fourth quarter. Arax Advisory Partners now owns 2,412 shares of the Wireless communications provider's stock worth $50,000 after purchasing an additional 612 shares during the last quarter. Institutional investors and hedge funds own 6.30% of the company's stock.

America Movil Company Profile

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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