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

StockNews.com cut shares of América Móvil (NYSE:AMXGet 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

(Get Rating)

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.

Further Reading

Analyst Recommendations for América Móvil (NYSE:AMX)

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