America Movil (NYSE:AMX) Price Target Raised to $23.50

America Movil (NYSE:AMX) had its price target lifted by JPMorgan Chase & Co. from $21.00 to $23.50 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the Wireless communications provider’s stock.

Several other equities research analysts have also recently commented on AMX. Weiss Ratings reiterated a “hold (c)” rating on shares of America Movil in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of America Movil from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. The Goldman Sachs Group lifted their price target on shares of America Movil from $21.40 to $23.20 and gave the stock a “buy” rating in a research report on Monday, October 6th. Scotiabank boosted their price objective on shares of America Movil from $17.10 to $19.50 and gave the company a “sector perform” rating in a report on Thursday, October 16th. Finally, UBS Group boosted their price objective on shares of America Movil from $21.10 to $23.60 and gave the company a “neutral” rating in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.73.

America Movil Stock Up 1.0%

Shares of NYSE:AMX opened at $22.48 on Monday. America Movil has a one year low of $13.10 and a one year high of $22.70. The company has a 50 day moving average of $20.49 and a 200-day moving average of $18.29. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market cap of $67.90 billion, a price-to-earnings ratio of 18.28 and a beta of 0.88.

America Movil (NYSE:AMX) last issued its quarterly earnings results on Wednesday, October 15th. The Wireless communications provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. America Movil had a net margin of 7.87% and a return on equity of 16.59%. The company had revenue of $12.71 billion during the quarter, compared to analysts’ expectations of $235.15 billion. On average, sell-side analysts forecast that America Movil will post 1.51 earnings per share for the current year.

America Movil Announces Dividend

The business also recently declared a special dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, November 7th will be issued a $0.2811 dividend. The ex-dividend date is Friday, November 7th. America Movil’s dividend payout ratio is 41.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hilltop National Bank acquired a new position in shares of America Movil in the second quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new position in shares of America Movil in the third quarter valued at approximately $31,000. Advantage Trust Co acquired a new position in shares of America Movil in the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of America Movil by 142.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the Wireless communications provider’s stock valued at $38,000 after buying an additional 1,235 shares during the period. Finally, Garde Capital Inc. bought a new stake in shares of America Movil in the first quarter worth $40,000. Institutional investors and hedge funds own 6.30% of the company’s stock.

America Movil 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.