Scotiabank Forecasts Strong Price Appreciation for America Movil (NYSE:AMX) Stock

America Movil (NYSE:AMX) had its price target upped by equities research analysts at Scotiabank from $19.50 to $21.80 in a research report issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the Wireless communications provider’s stock. Scotiabank’s price target points to a potential downside of 14.43% from the stock’s previous close.

AMX has been the topic of a number of other reports. UBS Group restated a “buy” rating and set a $30.00 target price (up from $23.60) on shares of America Movil in a report on Tuesday, February 24th. Santander downgraded shares of America Movil from an “outperform” rating to a “neutral” rating in a research report on Friday, December 12th. Zacks Research cut shares of America Movil from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of America Movil in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. lifted 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. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, America Movil presently has a consensus rating of “Hold” and a consensus target price of $23.73.

America Movil Stock Performance

Shares of NYSE AMX opened at $25.48 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.68 and a current ratio of 0.74. The stock has a 50 day moving average price of $23.39 and a 200 day moving average price of $22.22. The stock has a market capitalization of $76.81 billion, a PE ratio of 17.81 and a beta of 0.72. America Movil has a 52 week low of $13.10 and a 52 week high of $26.16.

America Movil (NYSE:AMX) last posted its quarterly earnings results on Thursday, February 12th. The Wireless communications provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). America Movil had a return on equity of 18.92% and a net margin of 8.78%.The company had revenue of $13.59 billion for the quarter, compared to analyst estimates of $13.09 billion. Analysts predict that America Movil will post 1.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On America Movil

Several hedge funds have recently bought and sold shares of the stock. Trust Co. of Vermont acquired a new position in shares of America Movil in the third quarter valued at approximately $31,000. Camelot Portfolios LLC bought a new position in shares of America Movil during the fourth quarter worth approximately $31,000. Atlas Capital Advisors Inc. acquired a new stake in America Movil during the 4th quarter worth approximately $37,000. Beacon Financial Strategies CORP acquired a new stake in America Movil during the 4th quarter worth approximately $43,000. Finally, EverSource Wealth Advisors LLC boosted its stake in America Movil by 142.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the Wireless communications provider’s stock valued at $38,000 after purchasing an additional 1,235 shares during the period. 6.30% of the stock is currently owned by institutional investors and hedge funds.

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.