America Movil (NYSE:AMX) Now Covered by Analysts at Bank of America

Bank of America assumed coverage on shares of America Movil (NYSE:AMX) in a research report issued to clients and investors on Thursday. The brokerage set a “neutral” rating and a $26.00 price target on the Wireless communications provider’s stock. Bank of America‘s price objective indicates a potential upside of 21.64% from the stock’s current price.

A number of other equities analysts have also recently weighed in on AMX. Citigroup cut America Movil from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $20.00 to $22.00 in a report on Wednesday, September 10th. Weiss Ratings restated a “hold (c)” rating on shares of America Movil in a report on Wednesday, October 8th. The Goldman Sachs Group set a $24.30 price target on shares of America Movil and gave the stock a “buy” rating in a report on Wednesday, October 22nd. UBS Group boosted their price objective on shares of America Movil from $21.10 to $23.60 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Finally, Scotiabank raised their target price on shares of America Movil from $17.10 to $19.50 and gave the stock a “sector perform” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, America Movil currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.34.

America Movil Stock Up 0.4%

NYSE:AMX traded up $0.08 during midday trading on Thursday, reaching $21.38. The company had a trading volume of 1,747,300 shares, compared to its average volume of 2,122,392. America Movil has a 12-month low of $13.10 and a 12-month high of $23.68. The firm has a market capitalization of $64.45 billion, a price-to-earnings ratio of 17.38 and a beta of 0.75. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.02. The stock’s fifty day simple moving average is $22.36 and its 200-day simple moving average is $19.89.

America Movil (NYSE:AMX) last posted its quarterly earnings data on Wednesday, October 15th. The Wireless communications provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The business had revenue of $12.71 billion during the quarter, compared to the consensus estimate of $235.15 billion. America Movil had a return on equity of 16.59% and a net margin of 7.87%. On average, sell-side analysts anticipate that America Movil will post 1.51 earnings per share for the current fiscal year.

Institutional Trading of America Movil

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. purchased a new stake in America Movil during the third quarter valued at about $201,000. First Affirmative Financial Network grew its position in America Movil by 10.2% during the 3rd quarter. First Affirmative Financial Network now owns 13,336 shares of the Wireless communications provider’s stock worth $280,000 after purchasing an additional 1,232 shares in the last quarter. Morningstar Investment Management LLC acquired a new stake in America Movil during the 3rd quarter valued at $1,441,000. Public Employees Retirement System of Ohio raised its stake in America Movil by 798.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 40,967 shares of the Wireless communications provider’s stock valued at $860,000 after purchasing an additional 36,407 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of America Movil by 25.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 77,458 shares of the Wireless communications provider’s stock valued at $1,627,000 after purchasing an additional 15,600 shares in the last quarter. Institutional investors and hedge funds own 6.30% of the company’s stock.

America Movil Company Profile

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.