América Móvil (NYSE:AMX) Price Target Lowered to $17.30 at Scotiabank

América Móvil (NYSE:AMX) had its price objective trimmed by Scotiabank from $17.80 to $17.30 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a sector perform rating on the Wireless communications provider’s stock.

AMX has been the topic of several other research reports. StockNews.com started coverage on shares of América Móvil in a research report on Thursday, October 10th. They set a “strong-buy” rating on the stock. The Goldman Sachs Group reduced their price target on shares of América Móvil from $21.00 to $20.80 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, UBS Group reduced their price target on shares of América Móvil from $23.30 to $22.60 and set a “buy” rating on the stock in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.32.

América Móvil Stock Up 0.9 %

AMX opened at $17.14 on Wednesday. The firm’s 50-day simple moving average is $16.57 and its 200-day simple moving average is $17.54. The firm has a market cap of $53.20 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 0.98 and a beta of 0.95. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.63 and a current ratio of 0.68. América Móvil has a twelve month low of $15.55 and a twelve month high of $20.31.

América Móvil (NYSE:AMX) last issued its quarterly earnings results 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). The company had revenue of $11.93 billion for the quarter, compared to analyst estimates of $12.37 billion. América Móvil had a return on equity of 7.73% and a net margin of 3.98%. Equities research analysts anticipate that América Móvil will post 1.39 EPS for the current fiscal year.

América Móvil Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be given a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from América Móvil’s previous semi-annual dividend of $0.18. This represents a yield of 2%. América Móvil’s dividend payout ratio is presently 24.07%.

Institutional Trading of América Móvil

A number of hedge funds have recently modified their holdings of the company. Capital International Investors raised its position in shares of América Móvil by 4.4% in the 1st quarter. Capital International Investors now owns 65,339,145 shares of the Wireless communications provider’s stock valued at $1,219,228,000 after acquiring an additional 2,741,127 shares during the period. Lazard Asset Management LLC raised its position in shares of América Móvil by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 12,528,301 shares of the Wireless communications provider’s stock valued at $233,777,000 after acquiring an additional 1,128,671 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of América Móvil by 3.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,528,360 shares of the Wireless communications provider’s stock valued at $159,139,000 after acquiring an additional 245,113 shares during the period. Capital International Inc. CA raised its position in shares of América Móvil by 9.5% in the 1st quarter. Capital International Inc. CA now owns 2,986,890 shares of the Wireless communications provider’s stock valued at $55,735,000 after acquiring an additional 258,203 shares during the period. Finally, Capital Group Private Client Services Inc. raised its position in shares of América Móvil by 3.1% in the 1st quarter. Capital Group Private Client Services Inc. now owns 2,606,773 shares of the Wireless communications provider’s stock valued at $48,642,000 after acquiring an additional 79,550 shares during the period. 6.30% of the stock is currently 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.