America Movil SAB de CV ADR Series L (AMX) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of America Movil SAB de CV ADR Series L (NYSE:AMX) from a hold rating to a strong sell rating in a research report report published on Friday.

According to Zacks, “American Movil is striving hard to increase its smartphone sales through promotional discounts and subsidized offers, which contract margins and affect overall profitability. AT&T’s entry into the Mexican telecom industry with the acquisition of Gurpo Iusacell and Nextel de Mexico is a major setback for America Movil. Strict switching policy has also led to massive customer churn in Central America, while Peru and Ecuador remain near-term concerns for the company. Stiff competition from other established players in the market and dollar strength have also adversely affected its performance. Notably, the company has underperformed the industry in the past six months on an average. However, the company’s strength across its end-markets along with its line of innovative products and offerings augurs well for the quarters ahead.”

A number of other equities analysts have also recently commented on the company. Bank of America lifted their price target on America Movil SAB de CV ADR Series L from $20.00 to $21.00 and gave the stock a buy rating in a research note on Tuesday, August 7th. UBS Group cut America Movil SAB de CV ADR Series L from a neutral rating to an underperform rating in a research note on Thursday, September 13th. Royal Bank of Canada reaffirmed a sell rating and issued a $16.00 price target on shares of America Movil SAB de CV ADR Series L in a research note on Tuesday, July 31st. TheStreet cut America Movil SAB de CV ADR Series L from a b- rating to a c rating in a research note on Monday, July 23rd. Finally, ValuEngine cut America Movil SAB de CV ADR Series L from a hold rating to a sell rating in a research note on Wednesday, October 3rd. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. America Movil SAB de CV ADR Series L presently has an average rating of Hold and a consensus price target of $20.29.

Shares of America Movil SAB de CV ADR Series L stock opened at $15.46 on Friday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.72 and a current ratio of 0.80. The company has a market capitalization of $53.06 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 1.02 and a beta of 0.50. America Movil SAB de CV ADR Series L has a one year low of $14.85 and a one year high of $19.91.

America Movil SAB de CV ADR Series L (NYSE:AMX) last announced its quarterly earnings results on Wednesday, July 18th. The Wireless communications provider reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.15). The company had revenue of $13.29 billion during the quarter, compared to analysts’ expectations of $12.71 billion. America Movil SAB de CV ADR Series L had a positive return on equity of 4.72% and a negative net margin of 0.25%. As a group, equities analysts expect that America Movil SAB de CV ADR Series L will post 0.94 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. James Hambro & Partners purchased a new position in shares of America Movil SAB de CV ADR Series L during the second quarter valued at approximately $124,000. Signature Financial Management Inc. purchased a new position in shares of America Movil SAB de CV ADR Series L during the second quarter valued at approximately $167,000. CIBC World Markets Inc. purchased a new position in shares of America Movil SAB de CV ADR Series L during the first quarter valued at approximately $229,000. Mariner LLC purchased a new stake in America Movil SAB de CV ADR Series L in the first quarter worth $260,000. Finally, Flow Traders U.S. LLC purchased a new stake in America Movil SAB de CV ADR Series L in the first quarter worth $286,000. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

America Movil SAB de CV ADR Series L Company Profile

América Móvil, SAB. de C.V. provides telecommunications services in Mexico 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 Internet access, messaging, and other wireless entertainment and corporate services; data transmission, email services, instant messaging, content streaming, and interactive applications; and data center, data administration, and hosting services to residential and corporate clients, as well as residential broadband services.

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