Scotiabank Cuts América Móvil (NYSE:AMX) Price Target to $17.80

América Móvil (NYSE:AMX) had its price target lowered by Scotiabank from $18.90 to $17.80 in a research note released on Friday, Benzinga reports. Scotiabank currently has a sector perform rating on the Wireless communications provider’s stock.

A number of other equities analysts also recently commented on AMX. UBS Group cut their target price on shares of América Móvil from $23.30 to $22.60 and set a buy rating on the stock in a research note on Thursday, July 18th. StockNews.com raised shares of América Móvil from a buy rating to a strong-buy rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $21.23.

América Móvil Stock Performance

Shares of AMX stock opened at $16.08 on Friday. The company’s fifty day simple moving average is $16.86 and its 200-day simple moving average is $17.87. América Móvil has a 52 week low of $15.55 and a 52 week high of $20.31. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 0.98. The company has a market cap of $49.93 billion, a PE ratio of 14.89, a P/E/G ratio of 0.98 and a beta of 0.95.

América Móvil (NYSE:AMX) last issued its earnings results on Tuesday, July 16th. The Wireless communications provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.36). América Móvil had a net margin of 3.98% and a return on equity of 7.73%. The business had revenue of $11.93 billion during the quarter, compared to analysts’ expectations of $12.37 billion. As a group, equities research analysts anticipate that América Móvil will post 1.39 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. grew its holdings in América Móvil by 2.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,622 shares of the Wireless communications provider’s stock worth $400,000 after acquiring an additional 587 shares in the last quarter. Profund Advisors LLC grew its holdings in América Móvil by 1.7% during the 2nd quarter. Profund Advisors LLC now owns 37,515 shares of the Wireless communications provider’s stock worth $638,000 after acquiring an additional 630 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in América Móvil by 1.5% during the 1st quarter. Bleakley Financial Group LLC now owns 58,918 shares of the Wireless communications provider’s stock worth $1,099,000 after acquiring an additional 864 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in América Móvil by 6.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,707 shares of the Wireless communications provider’s stock worth $284,000 after acquiring an additional 1,025 shares in the last quarter. Finally, Sound Income Strategies LLC grew its holdings in América Móvil by 43.5% during the 1st quarter. Sound Income Strategies LLC now owns 3,466 shares of the Wireless communications provider’s stock worth $65,000 after acquiring an additional 1,051 shares in the last quarter. 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.