America Movil (NYSE:AMX) Sets New 52-Week High – Here’s Why

America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $23.83 and last traded at $23.90, with a volume of 1527574 shares changing hands. The stock had previously closed at $23.58.

Analyst Ratings Changes

AMX has been the subject of several recent analyst reports. The Goldman Sachs Group set a $24.30 target price on America Movil and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Bank of America initiated coverage on America Movil in a report on Thursday, December 11th. They issued a “neutral” rating and a $26.00 target price on the stock. UBS Group increased their price target on shares of America Movil from $21.10 to $23.60 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Scotiabank raised their price target on shares of America Movil from $17.10 to $19.50 and gave the stock a “sector perform” rating in a report on Thursday, October 16th. Finally, JPMorgan Chase & Co. upped 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. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.34.

America Movil Price Performance

The company has a debt-to-equity ratio of 1.02, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market capitalization of $71.95 billion, a price-to-earnings ratio of 19.40 and a beta of 0.76. The stock’s 50 day simple moving average is $20.99 and its 200-day simple moving average is $20.99.

Hedge Funds Weigh In On America Movil

Several hedge funds have recently bought and sold shares of the business. Advantage Trust Co bought a new position in America Movil during the second quarter valued at about $30,000. Trust Co. of Vermont acquired a new position in shares of America Movil during the 3rd quarter valued at about $31,000. Camelot Portfolios LLC bought a new position in shares of America Movil in the 4th quarter valued at approximately $31,000. EverSource Wealth Advisors LLC lifted its holdings 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 worth $38,000 after purchasing an additional 1,235 shares during the last quarter. Finally, Beacon Financial Strategies CORP acquired a new stake in America Movil in the 4th quarter worth approximately $43,000. 6.30% of the stock is 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.