Scotiabank Raises America Movil (NYSE:AMX) Price Target to $21.80

America Movil (NYSE:AMX) had its price objective raised by equities research analysts at Scotiabank from $19.50 to $21.80 in a report released on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the Wireless communications provider’s stock. Scotiabank’s price objective suggests a potential downside of 11.74% from the company’s previous close.

Other analysts have also issued reports about the stock. Wall Street Zen upgraded shares of America Movil from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. Weiss Ratings reissued a “hold (c)” rating on shares of America Movil in a research note on Wednesday, January 21st. Santander downgraded America Movil from an “outperform” rating to a “neutral” rating in a report on Friday, December 12th. Zacks Research cut shares of America Movil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of America Movil from $23.50 to $24.50 and gave the stock a “neutral” rating in a research report on Wednesday, March 11th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.73.

America Movil Stock Performance

Shares of AMX traded down $0.11 during trading hours on Monday, reaching $24.70. 233,865 shares of the company’s stock traded hands, compared to its average volume of 2,418,785. The firm has a market capitalization of $74.47 billion, a price-to-earnings ratio of 17.28 and a beta of 0.72. The business’s fifty day simple moving average is $23.21 and its two-hundred day simple moving average is $22.15. America Movil has a twelve month low of $13.10 and a twelve month high of $26.16. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.74 and a quick ratio of 0.68.

America Movil (NYSE:AMX) last released its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). The company had revenue of $13.59 billion for the quarter, compared to analyst estimates of $13.09 billion. America Movil had a net margin of 8.78% and a return on equity of 18.92%. Analysts predict that America Movil will post 1.51 earnings per share for the current year.

Institutional Trading of America Movil

A number of institutional investors and hedge funds have recently made changes to their positions in AMX. American Century Companies Inc. boosted its stake in America Movil by 79.4% during the third quarter. American Century Companies Inc. now owns 2,445,349 shares of the Wireless communications provider’s stock worth $51,352,000 after buying an additional 1,082,493 shares in the last quarter. TrueMark Investments LLC acquired a new position in shares of America Movil in the 3rd quarter valued at $2,350,000. Citigroup Inc. lifted its holdings in shares of America Movil by 21.3% during the 3rd quarter. Citigroup Inc. now owns 348,781 shares of the Wireless communications provider’s stock worth $7,324,000 after acquiring an additional 61,234 shares during the period. GAM Holding AG acquired a new stake in shares of America Movil during the 3rd quarter valued at about $1,619,000. Finally, Bailard Inc. bought a new stake in America Movil in the third quarter valued at about $1,050,000. Institutional investors and hedge funds own 6.30% of the company’s stock.

About America Movil

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.