America Movil (NYSE:AMX) Shares Climb 6.8% on Strong Earnings

Key Points

• América Móvil shares rose 6.8% after the company reported quarterly EPS of $0.47, exceeding the $0.46 analyst consensus, while revenue of $14.53 billion topped estimates of $13.49 billion.
• Analyst sentiment is generally positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $29.52; JPMorgan recently raised its target to $32.
• Institutional investors own 6.3% of the company, while América Móvil operates telecommunications businesses across Latin America, the United States, and parts of Europe under brands including Telcel and Claro.

America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX - Get Free Report)'s stock price rose 6.8% on Wednesday following a better than expected earnings announcement. The stock traded as high as $24.15 and last traded at $24.4530. Approximately 1,327,695 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 2,181,261 shares. The stock had previously closed at $22.90.

The Wireless communications provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $13.49 billion. America Movil had a net margin of 9.38% and a return on equity of 20.33%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMX shares. Weiss Ratings reissued a "hold (c)" rating on shares of America Movil in a research report on Thursday, August 13th. Santander raised shares of America Movil from a "neutral" rating to an "outperform" rating in a research report on Thursday, August 13th. Wall Street Zen lowered shares of America Movil from a "strong-buy" rating to a "buy" rating in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. raised shares of America Movil from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $30.00 to $32.00 in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $29.52.

Hedge Funds Weigh In On America Movil

A number of hedge funds and other institutional investors have recently made changes to their positions in AMX. Trust Co. of Vermont bought a new stake in America Movil during the 2nd quarter valued at $39,000. GAMMA Investing LLC purchased a new position in shares of America Movil in the 3rd quarter valued at $68,000. TD Waterhouse Canada Inc. purchased a new position in shares of America Movil in the 3rd quarter valued at $75,000. Integrated Wealth Concepts LLC bought a new position in shares of America Movil in the 2nd quarter worth $82,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of America Movil by 23.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,896 shares of the Wireless communications provider's stock worth $99,000 after acquiring an additional 739 shares in the last quarter. Institutional investors own 6.30% of the company's stock.

America Movil Stock Up 7.0%

The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.71. The stock has a market capitalization of $73.66 billion, a PE ratio of 14.72, a PEG ratio of 1.16 and a beta of 0.59. The business has a 50 day moving average of $22.69 and a two-hundred day moving average of $24.85.

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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