JPMorgan Chase & Co. Raises America Movil (NYSE:AMX) Price Target to $23.50

Key Points

• JPMorgan Chase & Co. has raised its price target for America Movil from $21.00 to $23.50, suggesting a potential upside of 5.09% from the stock's previous close.
• Other analysts have also increased their price targets for America Movil, with UBS Group setting a target of $23.60 and Scotiabank raising it to $19.50.
• The stock closed at $22.36 on Monday, and America Movil reported $0.40 earnings per share, beating analysts' expectations of $0.36.

America Movil (NYSE:AMX - Get Free Report) had its price target raised by analysts at JPMorgan Chase & Co. from $21.00 to $23.50 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the Wireless communications provider's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 5.09% from the stock's previous close.

Several other analysts have also issued reports on AMX. UBS Group boosted their target price on America Movil from $21.10 to $23.60 and gave the company a "neutral" rating in a research note on Thursday. Scotiabank boosted their price objective on America Movil from $17.10 to $19.50 and gave the company a "sector perform" rating in a research note on Thursday. Weiss Ratings reiterated a "hold (c)" rating on shares of America Movil in a research note on Wednesday, October 8th. Wall Street Zen upgraded America Movil from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, The Goldman Sachs Group boosted their price objective on America Movil from $21.40 to $23.20 and gave the company a "buy" rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued 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 $21.55.

America Movil Stock Performance

AMX stock traded down $0.09 during midday trading on Monday, hitting $22.36. The company's stock had a trading volume of 1,193,798 shares, compared to its average volume of 2,154,183. The stock has a market cap of $67.53 billion, a price-to-earnings ratio of 18.18 and a beta of 0.88. The stock's 50-day moving average price is $20.29 and its 200 day moving average price is $18.17. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.02. America Movil has a 1 year low of $13.10 and a 1 year high of $22.70.

America Movil (NYSE:AMX - Get Free Report) last issued its earnings results on Wednesday, October 15th. The Wireless communications provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $12.71 billion for the quarter, compared to analyst estimates of $235.15 billion. America Movil had a return on equity of 16.59% and a net margin of 7.87%. On average, equities analysts forecast that America Movil will post 1.51 EPS for the current year.

Hedge Funds Weigh In On America Movil

Institutional investors have recently added to or reduced their stakes in the business. Hilltop National Bank bought a new position in America Movil in the 2nd quarter worth about $27,000. Trust Co. of Vermont purchased a new position in shares of America Movil in the 3rd quarter worth about $31,000. Advantage Trust Co purchased a new position in shares of America Movil in the 2nd quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its holdings 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 worth $38,000 after purchasing an additional 1,235 shares in the last quarter. Finally, Garde Capital Inc. purchased a new position in shares of America Movil in the 1st quarter worth about $40,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.