StockNews.com Initiates Coverage on América Móvil (NYSE:AMX)

StockNews.com assumed coverage on shares of América Móvil (NYSE:AMX) in a report published on Tuesday. The firm issued a buy rating on the Wireless communications provider’s stock.

Several other analysts also recently weighed in on the company. Scotiabank dropped their price objective on América Móvil from $17.80 to $17.30 and set a “sector perform” rating for the company in a research report on Wednesday, October 16th. UBS Group decreased their price target on shares of América Móvil from $23.30 to $22.60 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, The Goldman Sachs Group dropped their price target on América Móvil from $21.00 to $20.80 and set a “buy” rating for the company in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.08.

América Móvil Stock Performance

Shares of NYSE:AMX opened at $15.62 on Tuesday. The company’s 50 day simple moving average is $16.41 and its 200 day simple moving average is $17.38. The stock has a market capitalization of $48.17 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 0.97 and a beta of 0.95. América Móvil has a 1 year low of $15.55 and a 1 year high of $20.31. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.68 and a quick ratio of 0.63.

América Móvil Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be issued a $0.245 dividend. This is an increase from América Móvil’s previous semi-annual dividend of $0.18. This represents a dividend yield of 2%. The ex-dividend date is Friday, November 8th. América Móvil’s payout ratio is 40.30%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of América Móvil by 5.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,839 shares of the Wireless communications provider’s stock valued at $178,000 after buying an additional 608 shares during the period. Profund Advisors LLC raised its holdings in shares of América Móvil by 1.7% during the 2nd quarter. Profund Advisors LLC now owns 37,515 shares of the Wireless communications provider’s stock valued at $638,000 after buying an additional 630 shares in the last quarter. Bleakley Financial Group LLC lifted its position in América Móvil by 1.5% in the 1st quarter. Bleakley Financial Group LLC now owns 58,918 shares of the Wireless communications provider’s stock worth $1,099,000 after buying an additional 864 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in América Móvil by 6.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 16,707 shares of the Wireless communications provider’s stock worth $284,000 after buying an additional 1,025 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in América Móvil by 1.2% during the first quarter. Commonwealth Equity Services LLC now owns 117,906 shares of the Wireless communications provider’s stock valued at $2,200,000 after acquiring an additional 1,377 shares during the last quarter. 6.30% of the stock is owned by institutional investors.

About América Móvil

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.