JPMorgan Chase & Co. Upgrades America Movil (NYSE:AMX) to “Overweight”

America Movil (NYSE:AMX) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a $32.00 target price on the Wireless communications provider’s stock, up from their prior target price of $30.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 35.25% from the company’s current price.

Several other research firms also recently weighed in on AMX. New Street Research reiterated a “buy” rating and issued a $35.00 target price on shares of America Movil in a report on Wednesday, June 17th. Wall Street Zen downgraded America Movil from a “strong-buy” rating to a “buy” rating in a report on Monday, July 20th. UBS Group raised their target price on America Movil to $31.50 and gave the company a “buy” rating in a report on Thursday, April 23rd. The Goldman Sachs Group assumed coverage on shares of America Movil in a report on Monday, May 18th. They issued a “buy” rating and a $31.80 price target on the stock. Finally, Santander raised America Movil from a “neutral” rating to an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, America Movil presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.44.

America Movil Trading Up 0.9%

AMX opened at $23.66 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The stock’s fifty day moving average is $25.61 and its two-hundred day moving average is $25.20. America Movil has a 52 week low of $18.99 and a 52 week high of $28.46. The company has a market capitalization of $71.10 billion, a P/E ratio of 14.25, a PEG ratio of 0.75 and a beta of 0.65.

America Movil (NYSE:AMX) last posted its quarterly earnings data on Wednesday, July 1st. The Wireless communications provider reported $0.46 earnings per share (EPS) for the quarter. America Movil had a net margin of 9.38% and a return on equity of 20.33%. The firm had revenue of $13.78 billion for the quarter. Analysts forecast that America Movil will post 1.92 earnings per share for the current year.

Institutional Trading of America Movil

Large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC lifted its stake in shares of America Movil by 17.8% in the first quarter. Lazard Asset Management LLC now owns 20,807,915 shares of the Wireless communications provider’s stock worth $530,186,000 after buying an additional 3,140,360 shares during the last quarter. Boston Partners lifted its position in shares of America Movil by 7.3% in the 4th quarter. Boston Partners now owns 4,835,629 shares of the Wireless communications provider’s stock worth $99,952,000 after acquiring an additional 326,890 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of America Movil by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,305,379 shares of the Wireless communications provider’s stock valued at $109,695,000 after purchasing an additional 90,217 shares in the last quarter. Morgan Stanley raised its stake in shares of America Movil by 9.8% in the 4th quarter. Morgan Stanley now owns 3,970,788 shares of the Wireless communications provider’s stock valued at $82,076,000 after buying an additional 353,632 shares in the last quarter. Finally, Itau Unibanco Holding S.A. increased its stake in America Movil by 23.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 2,450,123 shares of the Wireless communications provider’s stock valued at $50,758,000 after acquiring an additional 467,811 shares during the period. 6.30% of the stock is owned by institutional investors.

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.