America Movil (NYSE:AMX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

America Movil (NYSE:AMX) had its target price increased by equities researchers at JPMorgan Chase & Co. from $23.50 to $24.50 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the Wireless communications provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 3.39% from the company’s current price.

Several other equities research analysts have also recently commented on AMX. UBS Group reiterated a “buy” rating and issued a $30.00 price target (up from $23.60) on shares of America Movil in a research note on Tuesday, February 24th. Santander lowered shares of America Movil from an “outperform” rating to a “neutral” rating in a research note on Friday, December 12th. Wall Street Zen upgraded shares of America Movil from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of America Movil in a report on Wednesday, January 21st. Finally, Bank of America started coverage on America Movil in a research report on Thursday, December 11th. They issued a “neutral” rating and a $26.00 target price for the company. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.40.

America Movil Price Performance

America Movil stock traded down $0.21 during trading hours on Wednesday, hitting $23.70. 1,773,027 shares of the company traded hands, compared to its average volume of 2,710,045. America Movil has a 1-year low of $13.10 and a 1-year high of $26.16. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.01. The firm has a market cap of $71.44 billion, a P/E ratio of 16.56 and a beta of 0.72. The firm’s 50-day simple moving average is $22.30 and its two-hundred day simple moving average is $21.78.

America Movil (NYSE:AMX) last announced its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). The company had revenue of $13.59 billion for the quarter, compared to analysts’ expectations of $13.09 billion. America Movil had a net margin of 8.78% and a return on equity of 18.92%. As a group, analysts forecast 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 and other institutional investors have recently added to or reduced their stakes in AMX. Trust Co. of Vermont purchased a new position in America Movil in the 3rd quarter worth about $31,000. Camelot Portfolios LLC bought a new position in shares of America Movil during the 4th quarter valued at approximately $31,000. Atlas Capital Advisors Inc. bought a new stake in shares of America Movil during the 4th quarter valued at $37,000. Beacon Financial Strategies CORP purchased a new position in shares of America Movil in the fourth quarter valued at about $43,000. Finally, 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 in the last quarter. 6.30% of the stock is owned by hedge funds and other institutional investors.

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.