Scotiabank Lowers America Movil (NYSE:AMX) Price Target to $20.80

America Movil (NYSE:AMX) had its price target cut by equities research analysts at Scotiabank from $21.80 to $20.80 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the Wireless communications provider’s stock. Scotiabank’s price objective indicates a potential downside of 20.51% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. The Goldman Sachs Group assumed coverage on America Movil in a report on Monday, May 18th. They issued a “buy” rating and a $31.80 price target for the company. Weiss Ratings upgraded America Movil from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Wall Street Zen downgraded America Movil from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 18th. JPMorgan Chase & Co. increased their target price on America Movil from $24.50 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, New Street Research raised shares of America Movil from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, America Movil presently has an average rating of “Hold” and an average target price of $27.02.

America Movil Stock Performance

AMX stock traded up $0.19 during midday trading on Wednesday, hitting $26.17. 148,481 shares of the stock traded hands, compared to its average volume of 2,052,891. America Movil has a 1-year low of $16.60 and a 1-year high of $27.80. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.72 and a quick ratio of 0.67. The stock’s fifty day simple moving average is $25.91 and its 200-day simple moving average is $23.52. The firm has a market cap of $78.76 billion, a P/E ratio of 16.65, a PEG ratio of 0.95 and a beta of 0.69.

America Movil (NYSE:AMX) last posted its earnings results on Tuesday, March 31st. The Wireless communications provider reported $0.02 earnings per share (EPS) for the quarter. America Movil had a net margin of 9.23% and a return on equity of 19.77%. The business had revenue of $13.24 billion for the quarter. On average, analysts expect that America Movil will post 1.82 earnings per share for the current year.

Hedge Funds Weigh In On America Movil

A number of hedge funds have recently made changes to their positions in AMX. Bank of America Corp DE lifted 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 valued at $57,901,000 after acquiring an additional 1,723,717 shares in the last quarter. Opal Capital LLC raised its stake in America Movil by 14.0% in the 1st quarter. Opal Capital LLC now owns 146,664 shares of the Wireless communications provider’s stock valued at $3,737,000 after purchasing an additional 18,040 shares during the last quarter. Amundi lifted its holdings in America Movil by 11.2% in the 1st quarter. Amundi now owns 2,381,539 shares of the Wireless communications provider’s stock valued at $60,682,000 after purchasing an additional 239,057 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in America Movil by 23.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,896 shares of the Wireless communications provider’s stock worth $99,000 after purchasing an additional 739 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in America Movil by 2.2% during the 1st quarter. Royal Bank of Canada now owns 387,667 shares of the Wireless communications provider’s stock worth $9,877,000 after purchasing an additional 8,271 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.