Zacks Investment Research upgraded shares of Amer Movil (NYSE:AMX) from a sell rating to a hold rating in a report issued on Tuesday.

According to Zacks, “America Movil continues to participate in spectrum auctions across several countries in order to deploy 4G LTE services and expand its 3G footprint. Moreover, the company’s decision to reduce its fixed-line-to-mobile call rates in a phased manner reflects its compliance with the regulations.However, the company witnessed declining revenues in its predominant Mexican market. Stringent regulatory measures and intensifying competition are the main reasons for the company’s weakening position in the Mexican market. Hence, America Movil is focused on shifting its business centre from Mexico to Brazil through the purchase Oi S.A. where the data centers, fiber networks and mobile operations make lucrative buyout options. Moreover, aggressive promotional strategies may hurt margins, affecting the company’s overall profitability in the near term.”

A number of other brokerages have also recently issued reports on AMX. Bank of America Corp. upgraded shares of Amer Movil from a neutral rating to a buy rating and boosted their price objective for the company from $13.00 to $13.50 in a report on Tuesday. Citigroup Inc. upgraded shares of Amer Movil from a sell rating to a neutral rating and boosted their price objective for the company from $10.50 to $12.00 in a report on Friday, October 28th. Finally, Credit Suisse Group AG restated a neutral rating and set a $12.00 price objective (up previously from $10.50) on shares of Amer Movil in a report on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $13.08.

Analyst Recommendations for Amer Movil (NYSE:AMX)

Amer Movil (NYSE:AMX) opened at 11.63 on Tuesday. The firm has a market cap of $38.09 billion, a price-to-earnings ratio of 26.43 and a beta of 0.76. The stock’s 50 day moving average is $12.00 and its 200 day moving average is $12.05. Amer Movil has a 52 week low of $11.02 and a 52 week high of $16.89.

The business also recently declared a dividend, which was paid on Monday, October 31st. Shareholders of record on Monday, October 31st were paid a $0.151 dividend. The ex-dividend date was Thursday, October 27th. Amer Movil’s payout ratio is currently 55.77%.

Several hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC raised its stake in shares of Amer Movil by 82.3% in the third quarter. Lazard Asset Management LLC now owns 40,321,605 shares of the company’s stock worth $461,279,000 after buying an additional 18,205,963 shares in the last quarter. Capital International Investors raised its stake in shares of Amer Movil by 19.1% in the third quarter. Capital International Investors now owns 28,356,582 shares of the company’s stock worth $324,399,000 after buying an additional 4,549,410 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in shares of Amer Movil by 10.6% in the third quarter. Manning & Napier Advisors LLC now owns 16,172,031 shares of the company’s stock worth $185,007,000 after buying an additional 1,552,680 shares in the last quarter. Westwood Global Investments LLC raised its stake in shares of Amer Movil by 3.4% in the second quarter. Westwood Global Investments LLC now owns 15,251,300 shares of the company’s stock worth $186,981,000 after buying an additional 501,965 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Amer Movil by 12.7% in the third quarter. Fisher Asset Management LLC now owns 12,849,325 shares of the company’s stock worth $146,996,000 after buying an additional 1,443,390 shares in the last quarter. 6.98% of the stock is currently owned by institutional investors and hedge funds.

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About Amer Movil

America Movil, SAB. de C.V. is a holding company. The Company provides telecommunications services. Its services include mobile and fixed-line voice services, wireless and fixed data services, Internet access and pay television, sales of equipment, accessories and computers, as well as other related services.

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