Scotiabank Lowers América Móvil (NYSE:AMX) Price Target to $17.80

América Móvil (NYSE:AMX) had its price objective reduced by equities research analysts at Scotiabank from $18.90 to $17.80 in a report released on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the Wireless communications provider’s stock. Scotiabank’s price target would suggest a potential upside of 7.88% from the company’s current price.

Several other equities research analysts have also recently commented on AMX. UBS Group cut their price target on América Móvil from $23.30 to $22.60 and set a “buy” rating for the company in a report on Thursday, July 18th. StockNews.com upgraded América Móvil from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.23.

América Móvil Price Performance

AMX stock traded down $0.25 during midday trading on Friday, reaching $16.50. The stock had a trading volume of 178,598 shares, compared to its average volume of 1,483,958. América Móvil has a 52-week low of $15.55 and a 52-week high of $20.31. The company has a market cap of $51.23 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95. The company’s fifty day simple moving average is $16.91 and its 200 day simple moving average is $17.90. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 0.98.

América Móvil (NYSE:AMX) last posted its quarterly earnings results on Tuesday, July 16th. The Wireless communications provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.36). The business had revenue of $11.93 billion for the quarter, compared to analyst estimates of $12.37 billion. América Móvil had a return on equity of 7.73% and a net margin of 3.98%. As a group, sell-side analysts predict that América Móvil will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of América Móvil

A number of hedge funds and other institutional investors have recently modified their holdings of AMX. Envestnet Portfolio Solutions Inc. boosted its holdings in América Móvil by 2.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,622 shares of the Wireless communications provider’s stock valued at $400,000 after acquiring an additional 587 shares during the period. Profund Advisors LLC boosted its position in América Móvil by 1.7% in the 2nd quarter. Profund Advisors LLC now owns 37,515 shares of the Wireless communications provider’s stock valued at $638,000 after buying an additional 630 shares during the period. Bleakley Financial Group LLC grew its stake in shares of América Móvil by 1.5% in the first quarter. Bleakley Financial Group LLC now owns 58,918 shares of the Wireless communications provider’s stock worth $1,099,000 after acquiring an additional 864 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of América Móvil by 6.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 16,707 shares of the Wireless communications provider’s stock worth $284,000 after acquiring an additional 1,025 shares during the period. Finally, Sound Income Strategies LLC raised its stake in shares of América Móvil by 43.5% in the first quarter. Sound Income Strategies LLC now owns 3,466 shares of the Wireless communications provider’s stock valued at $65,000 after acquiring an additional 1,051 shares in the last quarter. 6.30% of the stock is owned by institutional investors and hedge funds.

About América Móvil

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.