América Móvil (NYSE:AMX) Downgraded to Buy at StockNews.com

América Móvil (NYSE:AMX – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

Several other brokerages have also weighed in on AMX. The Goldman Sachs Group dropped their target price on América Móvil from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, October 26th. UBS Group downgraded shares of América Móvil from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $20.40 to $22.50 in a research report on Monday, November 28th. Finally, Barclays decreased their target price on shares of América Móvil from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, October 17th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.10.

América Móvil Price Performance

AMX opened at $20.90 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $19.28 and its 200 day moving average price is $18.53. América Móvil has a fifty-two week low of $16.13 and a fifty-two week high of $22.65. The firm has a market cap of $66.46 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 1.76 and a beta of 0.86.

América Móvil (NYSE:AMX – Get Rating) last announced its quarterly earnings results on Tuesday, October 18th. The Wireless communications provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. América Móvil had a return on equity of 18.15% and a net margin of 22.50%. The business had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.71 billion. As a group, sell-side analysts expect that América Móvil will post 1.27 earnings per share for the current year.

Institutional Trading of América Móvil

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. increased its stake in shares of América Móvil by 437.3% during the first quarter. Invesco Ltd. now owns 17,657,861 shares of the Wireless communications provider’s stock valued at $373,465,000 after acquiring an additional 14,371,448 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in América Móvil by 0.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,649,103 shares of the Wireless communications provider’s stock valued at $217,561,000 after purchasing an additional 72,379 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of América Móvil by 13.1% during the 3rd quarter. Lazard Asset Management LLC now owns 9,507,900 shares of the Wireless communications provider’s stock valued at $156,594,000 after purchasing an additional 1,099,601 shares during the period. Bank of America Corp DE raised its stake in shares of América Móvil by 89.2% in the 1st quarter. Bank of America Corp DE now owns 6,658,966 shares of the Wireless communications provider’s stock worth $140,838,000 after buying an additional 3,139,187 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in América Móvil by 3.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,950,879 shares of the Wireless communications provider’s stock valued at $81,583,000 after buying an additional 170,729 shares in the last quarter. 5.55% of the stock is currently owned by institutional investors.

About América Móvil

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América Móvil, SAB. de C.V. provides telecommunications services in Latin America and internationally. The company offers wireless and fixed voice services, including local, domestic, and international long-distance services; and network interconnection services. It also 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.