Scotiabank Cuts América Móvil (NYSE:AMX) Price Target to $18.90

América Móvil (NYSE:AMX) had its target price cut by Scotiabank from $19.00 to $18.90 in a research note released on Wednesday, Benzinga reports. They currently have a sector perform rating on the Wireless communications provider’s stock.

AMX has been the topic of a number of other research reports. StockNews.com began coverage on América Móvil in a report on Tuesday, July 16th. They issued a buy rating on the stock. JPMorgan Chase & Co. lifted their price objective on América Móvil from $15.00 to $17.50 and gave the company an underweight rating in a report on Monday, April 1st. Finally, The Goldman Sachs Group raised América Móvil from a neutral rating to a buy rating and boosted their price target for the stock from $21.00 to $22.00 in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $21.65.

América Móvil Price Performance

Shares of AMX opened at $17.55 on Wednesday. América Móvil has a twelve month low of $15.99 and a twelve month high of $21.61. The stock’s 50 day moving average is $18.00 and its two-hundred day moving average is $18.35. The firm has a market capitalization of $54.49 billion, a PE ratio of 16.25, a P/E/G ratio of 1.02 and a beta of 0.94. The company has a current ratio of 0.65, a quick ratio of 0.61 and a debt-to-equity ratio of 0.81.

América Móvil (NYSE:AMX) last announced its quarterly earnings data on Tuesday, July 16th. The Wireless communications provider reported ($0.02) earnings per share 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. Research analysts anticipate that América Móvil will post 1.45 earnings per share for the current year.

América Móvil Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, July 22nd. Stockholders of record on Friday, July 12th will be paid a dividend of $0.2608 per share. This is a positive change from América Móvil’s previous semi-annual dividend of $0.18. The ex-dividend date is Friday, July 12th. This represents a dividend yield of 2.1%. América Móvil’s payout ratio is 25.00%.

Institutional Investors Weigh In On América Móvil

Institutional investors and hedge funds have recently bought and sold shares of the stock. Private Ocean LLC purchased a new stake in América Móvil in the 1st quarter valued at approximately $26,000. Principal Securities Inc. purchased a new stake in América Móvil in the 4th quarter valued at approximately $41,000. Sound Income Strategies LLC lifted its stake in América Móvil by 1,729.5% in the 4th quarter. Sound Income Strategies LLC now owns 2,415 shares of the Wireless communications provider’s stock valued at $45,000 after buying an additional 2,283 shares in the last quarter. First United Bank & Trust acquired a new position in América Móvil in the 4th quarter valued at $53,000. Finally, Headlands Technologies LLC raised its holdings in América Móvil by 448.5% in the 1st quarter. Headlands Technologies LLC now owns 4,328 shares of the Wireless communications provider’s stock valued at $81,000 after acquiring an additional 3,539 shares during the last quarter. Hedge funds and other institutional investors own 6.30% of the company’s stock.

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 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.