América Móvil (NYSE:AMX) Price Target Cut to $22.00 by Analysts at The Goldman Sachs Group

América Móvil (NYSE:AMX) had its price objective dropped by analysts at The Goldman Sachs Group from $25.00 to $22.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the Wireless communications provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 20.22% from the stock’s current price.

AMX has been the topic of a number of other reports. StockNews.com downgraded América Móvil from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Jefferies Financial Group initiated coverage on shares of América Móvil in a research report on Tuesday. They set a “hold” rating on the stock. Scotiabank downgraded shares of América Móvil from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, July 12th. JPMorgan Chase & Co. reduced their target price on América Móvil from $19.00 to $17.50 and set an “underweight” rating for the company in a research note on Tuesday, August 29th. Finally, Citigroup upgraded América Móvil from a “neutral” rating to a “buy” rating and set a $23.50 price objective for the company in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.00.

América Móvil Stock Performance

Shares of AMX remained flat at $18.30 during mid-day trading on Tuesday. The stock had a trading volume of 265,952 shares, compared to its average volume of 1,648,795. The stock has a 50 day simple moving average of $19.78 and a 200 day simple moving average of $20.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.66 and a quick ratio of 0.62. The company has a market capitalization of $57.83 billion, a PE ratio of 12.53, a PEG ratio of 1.37 and a beta of 0.89. América Móvil has a 52 week low of $16.13 and a 52 week high of $23.07.

América Móvil (NYSE:AMX) last released its quarterly earnings results on Tuesday, July 11th. The Wireless communications provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. América Móvil had a net margin of 10.55% and a return on equity of 22.26%. The firm had revenue of $11.46 billion during the quarter, compared to analyst estimates of $11.26 billion. On average, analysts predict that América Móvil will post 1.66 EPS for the current year.

Institutional Trading of América Móvil

Several institutional investors and hedge funds have recently made changes to their positions in AMX. Invesco Ltd. grew its position in América Móvil by 437.3% in the 1st quarter. Invesco Ltd. now owns 17,657,861 shares of the Wireless communications provider’s stock worth $373,465,000 after purchasing an additional 14,371,448 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of América Móvil by 83,299.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,190,495 shares of the Wireless communications provider’s stock valued at $203,667,000 after acquiring an additional 11,177,077 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of América Móvil by 19.9% during the second quarter. Lazard Asset Management LLC now owns 10,488,612 shares of the Wireless communications provider’s stock valued at $226,972,000 after acquiring an additional 1,742,255 shares during the last quarter. Bank of America Corp DE lifted its holdings in América Móvil by 86.9% during the fourth quarter. Bank of America Corp DE now owns 5,673,383 shares of the Wireless communications provider’s stock worth $103,256,000 after acquiring an additional 2,637,904 shares during the period. Finally, Schroder Investment Management Group boosted its position in América Móvil by 3.4% in the fourth quarter. Schroder Investment Management Group now owns 5,280,487 shares of the Wireless communications provider’s stock worth $96,105,000 after purchasing an additional 175,579 shares during the last quarter. Hedge funds and other institutional investors own 5.55% of the company’s stock.

About América Móvil

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 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.