América Móvil (NYSE:AMX) Given New $17.30 Price Target at Scotiabank

América Móvil (NYSE:AMX) had its price target dropped by research analysts at Scotiabank from $17.80 to $17.30 in a report released on Wednesday, Benzinga reports. The firm currently has a “sector perform” rating on the Wireless communications provider’s stock. Scotiabank’s target price would indicate a potential upside of 3.10% from the stock’s current price.

AMX has been the subject of a number of other research reports. StockNews.com started coverage on América Móvil in a research report on Thursday, October 10th. They issued a “strong-buy” rating for the company. UBS Group cut their target price on América Móvil from $23.30 to $22.60 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group reduced their target price on América Móvil from $21.00 to $20.80 and set a “buy” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, América Móvil currently has a consensus rating of “Moderate Buy” and an average price target of $20.32.

América Móvil Stock Performance

NYSE:AMX traded up $0.34 during trading hours on Wednesday, hitting $16.78. 1,541,080 shares of the company traded hands, compared to its average volume of 1,559,646. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 0.98. América Móvil has a twelve month low of $15.55 and a twelve month high of $20.31. The firm has a 50-day moving average of $16.57 and a 200 day moving average of $17.56. The stock has a market capitalization of $52.10 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 0.98 and a beta of 0.95.

América Móvil (NYSE:AMX) last posted its quarterly earnings data on Tuesday, July 16th. The Wireless communications provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.36). América Móvil had a return on equity of 7.73% and a net margin of 3.98%. The company had revenue of $11.93 billion for the quarter, compared to the consensus estimate of $12.37 billion. On average, analysts forecast that América Móvil will post 1.39 EPS for the current year.

Hedge Funds Weigh In On América Móvil

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC grew its position in América Móvil by 448.5% in the first quarter. Headlands Technologies LLC now owns 4,328 shares of the Wireless communications provider’s stock valued at $81,000 after acquiring an additional 3,539 shares during the period. Capstone Investment Advisors LLC bought a new stake in shares of América Móvil in the 1st quarter worth about $1,353,000. Envestnet Asset Management Inc. increased its position in shares of América Móvil by 30.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 972,542 shares of the Wireless communications provider’s stock worth $16,533,000 after purchasing an additional 228,856 shares in the last quarter. Cetera Investment Advisers increased its position in shares of América Móvil by 43.9% during the 1st quarter. Cetera Investment Advisers now owns 117,758 shares of the Wireless communications provider’s stock worth $2,197,000 after purchasing an additional 35,930 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in América Móvil during the 1st quarter valued at about $679,000. 6.30% of the stock is owned by institutional investors and hedge funds.

América Móvil 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.