StockNews.com Lowers América Móvil (NYSE:AMX) to Buy

StockNews.com cut shares of América Móvil (NYSE:AMX – Get Rating) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

Several other research firms have also commented on AMX. Citigroup upgraded América Móvil from a neutral rating to a buy rating and set a $23.00 price objective on the stock in a research report on Thursday, August 4th. UBS Group downgraded América Móvil from a buy rating to a neutral rating and increased their price objective for the company from $20.40 to $22.50 in a research note on Monday. Piper Sandler raised América Móvil from a neutral rating to a buy rating in a research note on Tuesday, September 20th. Barclays reduced their price objective on América Móvil from $22.00 to $20.00 and set an overweight rating for the company in a research note on Monday, October 17th. Finally, The Goldman Sachs Group reduced their price objective on América Móvil from $28.00 to $24.00 and set a buy rating for the company in a research note on Wednesday, October 26th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $22.10.

América Móvil Trading Up 0.4 %

América Móvil stock opened at $19.54 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 0.88. América Móvil has a 12 month low of $16.13 and a 12 month high of $22.65. The stock’s 50 day simple moving average is $18.35 and its two-hundred day simple moving average is $18.90. The firm has a market cap of $62.14 billion, a PE ratio of 6.58, a P/E/G ratio of 1.80 and a beta of 0.85.

Hedge Funds Weigh In On América Móvil

Hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its holdings in América Móvil by 437.3% during the 1st quarter. Invesco Ltd. now owns 17,657,861 shares of the Wireless communications provider’s stock valued at $373,465,000 after acquiring an additional 14,371,448 shares during the period. BNP Paribas Arbitrage SNC boosted its holdings in América Móvil by 210,488.6% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,001,183 shares of the Wireless communications provider’s stock valued at $65,899,000 after acquiring an additional 3,999,283 shares during the period. Bank of America Corp DE boosted its holdings in América Móvil by 89.2% during the 1st quarter. Bank of America Corp DE now owns 6,658,966 shares of the Wireless communications provider’s stock valued at $140,838,000 after acquiring an additional 3,139,187 shares during the period. Driehaus Capital Management LLC purchased a new position in América Móvil during the 2nd quarter valued at about $30,830,000. Finally, Sei Investments Co. boosted its holdings in América Móvil by 1,260.6% during the 2nd quarter. Sei Investments Co. now owns 1,268,578 shares of the Wireless communications provider’s stock valued at $25,917,000 after acquiring an additional 1,175,344 shares during the period. 5.71% of the stock is currently owned by hedge funds and other institutional investors.

About América Móvil

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América Móvil, SAB. de C.V. provides telecommunications services in Latin America and internationally. The company offers wireless and fixed voice services, including local, domestic, and international long-distance services; and network interconnection services. It also 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.