Zacks Research Upgrades America Movil (NYSE:AMX) to Strong-Buy

Key Points

• Zacks Research upgraded America Movil from “hold” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with a $29.43 price target.
• America Movil opened at $24.58, with a market capitalization of $73.85 billion and a 12-month trading range of $19.70 to $28.46. JPMorgan also raised its target to $32, while UBS lowered its target to $31 but maintained a “buy” rating.
• The company reported quarterly revenue of $13.78 billion and earnings of $0.46 per share, with analysts expecting full-year earnings of $1.90 per share; institutional investors own 6.30% of its stock.

America Movil (NYSE:AMX - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday, Zacks reports.

Several other equities research analysts have also recently commented on the stock. Santander raised shares of America Movil from a "neutral" rating to an "outperform" rating in a research report on Thursday, August 13th. Weiss Ratings restated a "hold (c)" rating on shares of America Movil in a report on Thursday, August 13th. Wall Street Zen downgraded America Movil from a "buy" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. upgraded America Movil from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $30.00 to $32.00 in a report on Tuesday, August 18th. Finally, UBS Group dropped their target price on America Movil from $32.50 to $31.00 and set a "buy" rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, America Movil presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.43.

America Movil Price Performance

NYSE AMX opened at $24.58 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. America Movil has a 12-month low of $19.70 and a 12-month high of $28.46. The company has a market capitalization of $73.85 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.27 and a beta of 0.59. The firm's 50 day moving average is $22.77 and its 200-day moving average is $24.83.

America Movil (NYSE:AMX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 1st. The Wireless communications provider reported $0.46 EPS for the quarter. America Movil had a net margin of 9.38% and a return on equity of 21.07%. The business had revenue of $13.78 billion for the quarter. Equities research analysts anticipate that America Movil will post 1.90 earnings per share for the current fiscal year.

Hedge Funds Weigh In On America Movil

A number of large investors have recently made changes to their positions in AMX. Lazard Asset Management LLC raised its holdings in America Movil by 17.8% in the 1st quarter. Lazard Asset Management LLC now owns 20,807,915 shares of the Wireless communications provider's stock valued at $530,186,000 after acquiring an additional 3,140,360 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of America Movil by 3.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 7,475,816 shares of the Wireless communications provider's stock worth $158,413,000 after purchasing an additional 251,941 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of America Movil by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,305,379 shares of the Wireless communications provider's stock worth $109,695,000 after purchasing an additional 90,217 shares during the period. Amundi increased its position in shares of America Movil by 11.2% in the first quarter. Amundi now owns 2,381,539 shares of the Wireless communications provider's stock worth $60,682,000 after purchasing an additional 239,057 shares during the period. Finally, Bank of America Corp DE increased its position in shares of America Movil by 314.2% in the first quarter. Bank of America Corp DE now owns 2,272,406 shares of the Wireless communications provider's stock worth $57,901,000 after purchasing an additional 1,723,717 shares during the period. Institutional investors own 6.30% of the company's stock.

America Movil Company Profile

América Móvil, SAB. de C.V. is a Mexico-based telecommunications company that provides wireless and fixed-line communications services. Its offerings include mobile voice and data, broadband internet, landline telephone service, pay television, digital services, and enterprise telecommunications solutions. The company serves individual consumers, businesses, and government customers.

América Móvil operates across Latin America, the United States, and parts of Europe. Its principal brands include Telcel in Mexico and Claro in several Latin American markets.

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