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

America Movil (NYSE:AMX) had its price objective upped by Scotiabank from $19.50 to $21.80 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the Wireless communications provider’s stock.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on America Movil from $23.50 to $24.50 and gave the stock a “neutral” rating in a report on Wednesday, March 11th. Santander lowered shares of 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 research report on Wednesday, December 10th. Bank of America assumed coverage on shares of America Movil in a research note on Thursday, December 11th. They set a “neutral” rating and a $26.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of America Movil in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.73.

America Movil Stock Up 0.4%

Shares of NYSE AMX opened at $25.58 on Monday. The company has a market capitalization of $77.11 billion, a P/E ratio of 17.88 and a beta of 0.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.74 and a quick ratio of 0.68. The company has a 50 day simple moving average of $23.49 and a 200-day simple moving average of $22.25. America Movil has a 1 year low of $13.10 and a 1 year high of $26.16.

America Movil (NYSE:AMX) last released its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The business had revenue of $13.59 billion during 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%. On average, equities research analysts predict that America Movil will post 1.51 earnings per share for the current year.

Institutional Investors Weigh In On America Movil

Several institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in America Movil by 79.4% during the 3rd 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 third quarter worth $2,350,000. Citigroup Inc. grew its stake in shares of America Movil by 21.3% in the third 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 in the last quarter. GAM Holding AG purchased a new stake in shares of America Movil during the third quarter worth $1,619,000. Finally, Russell Investments Group Ltd. increased its position in shares of America Movil by 13.9% during the second quarter. Russell Investments Group Ltd. now owns 978,834 shares of the Wireless communications provider’s stock worth $17,560,000 after acquiring an additional 119,294 shares during the period. Hedge funds and other institutional investors 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.