America Movil (NYSE:AMX) Rating Increased to Strong-Buy at Zacks Research

America Movil (NYSE:AMX) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts also recently issued reports on AMX. Scotiabank raised their price objective 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. Citigroup downgraded shares of America Movil from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $20.00 to $22.00 in a report on Wednesday, September 10th. Weiss Ratings restated a “hold (c)” rating on shares of America Movil in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of America Movil from $21.00 to $23.50 and gave the stock a “neutral” rating in a report on Monday. Finally, The Goldman Sachs Group set a $24.30 target price on shares of America Movil and gave the stock a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, America Movil presently has an average rating of “Moderate Buy” and an average target price of $21.73.

America Movil Stock Up 1.0%

AMX opened at $22.73 on Wednesday. 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 company’s 50-day moving average is $20.57 and its 200 day moving average is $18.35. America Movil has a fifty-two week low of $13.10 and a fifty-two week high of $22.76. The firm has a market capitalization of $68.63 billion, a P/E ratio of 18.48 and a beta of 0.88.

America Movil (NYSE:AMX) last released its quarterly earnings results on Wednesday, October 15th. The Wireless communications provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. America Movil had a net margin of 7.87% and a return on equity of 16.59%. The company had revenue of $12.71 billion for the quarter, compared to analyst estimates of $235.15 billion. Research analysts expect 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. Hilltop National Bank bought a new stake in shares of America Movil in the 2nd quarter worth approximately $27,000. Trust Co. of Vermont bought a new stake in shares of America Movil in the 3rd quarter worth approximately $31,000. Advantage Trust Co bought a new stake in shares of America Movil in the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 acquiring an additional 1,235 shares during the last quarter. Finally, Maseco LLP bought a new stake in shares of America Movil in the 2nd quarter worth approximately $54,000. 6.30% of the stock is currently owned by institutional investors.

About America Movil

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.