Bank of America Begins Coverage on America Movil (NYSE:AMX)

Equities research analysts at Bank of America initiated coverage on shares of America Movil (NYSE:AMX) in a research report issued 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 target price indicates a potential upside of 21.89% from the company’s previous close.

AMX has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price objective on shares of America Movil from $21.00 to $23.50 and gave the company a “neutral” rating in a research note on Monday, October 20th. Scotiabank lifted their price target on America Movil from $17.10 to $19.50 and gave the company a “sector perform” rating in a research report on Thursday, October 16th. Zacks Research raised America Movil from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group set a $24.30 target price on America Movil and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of America Movil in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.34.

America Movil Price Performance

Shares of NYSE AMX opened at $21.33 on Thursday. The stock has a market cap of $64.31 billion, a P/E ratio of 17.34 and a beta of 0.75. The firm’s 50-day simple moving average is $22.38 and its 200 day simple moving average is $19.93. America Movil has a fifty-two week low of $13.10 and a fifty-two week high of $23.68. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.02.

America Movil (NYSE:AMX) last released its earnings results on Wednesday, October 15th. The Wireless communications provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. America Movil had a net margin of 7.87% and a return on equity of 16.59%. The firm had revenue of $12.71 billion for the quarter, compared to analysts’ expectations of $235.15 billion. Equities analysts expect that America Movil will post 1.51 EPS for the current year.

Institutional Investors Weigh In On America Movil

A number of large investors have recently made changes to their positions in AMX. Hilltop National Bank purchased a new stake in shares of America Movil in the 2nd quarter valued at approximately $27,000. Advantage Trust Co acquired a new stake in America Movil during the 2nd quarter valued at $30,000. Trust Co. of Vermont purchased a new stake in shares of America Movil in the third quarter valued at $31,000. EverSource Wealth Advisors LLC boosted its position in shares of America Movil by 142.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the Wireless communications provider’s stock worth $38,000 after buying an additional 1,235 shares during the period. Finally, Maseco LLP purchased a new position in shares of America Movil during the second quarter valued at $54,000. 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.