America Movil SAB de CV ADR Series L (AMX) Upgraded to “Hold” by Zacks Investment Research

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

According to Zacks, “America Movil is one of the leading providers of integrated telecommunications services in Latin America and the Caribbean. The company’s strength across its end-markets along with its line of innovative product offerings augur well for the quarters ahead. It has launched 4.5G networks in Brazil, Mexico and Austria that can deliver speed up to 10 times faster than 4G for high quality contents. This will enable the company to connect millions of devices using NB-IoT and Cat-M technologies. However, the stock has underperformed the industry in the past three months on an average. America Movil is striving hard to increase its smartphone sales through promotional discounts, which contract margins and hurt overall profitability. Stiff competition from established players like that arising due to AT&T’s entry into the Mexican telecom industry and strengthening dollar have adversely impacted the company’s financial performance.”

Several other brokerages have also recently weighed in on AMX. ValuEngine raised shares of America Movil SAB de CV ADR Series L from a sell rating to a hold rating in a research report on Tuesday. Deutsche Bank assumed coverage on shares of America Movil SAB de CV ADR Series L in a report on Monday, June 25th. They set a hold rating and a $18.00 price target on the stock. TheStreet downgraded shares of America Movil SAB de CV ADR Series L from a b- rating to a c rating in a report on Monday, July 23rd. Royal Bank of Canada reissued a sell rating and issued a $16.00 price objective on shares of America Movil SAB de CV ADR Series L in a report on Tuesday, July 31st. Finally, UBS Group downgraded shares of America Movil SAB de CV ADR Series L from a neutral rating to an underperform rating in a report on Thursday, September 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $20.29.

Shares of NYSE AMX traded down $0.11 during midday trading on Friday, hitting $15.34. The company’s stock had a trading volume of 3,033,468 shares, compared to its average volume of 2,585,758. America Movil SAB de CV ADR Series L has a one year low of $14.85 and a one year high of $19.91. The company has a quick ratio of 0.72, a current ratio of 0.80 and a debt-to-equity ratio of 2.79. The firm has a market cap of $53.06 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50.

America Movil SAB de CV ADR Series L (NYSE:AMX) last posted its earnings results on Wednesday, July 18th. The Wireless communications provider reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.15). The firm had revenue of $13.29 billion for the quarter, compared to the consensus estimate 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%. Equities analysts expect that America Movil SAB de CV ADR Series L will post 0.94 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. James Hambro & Partners purchased a new stake in shares of America Movil SAB de CV ADR Series L during the second quarter valued at $124,000. Signature Financial Management Inc. purchased a new stake in shares of America Movil SAB de CV ADR Series L during the second quarter valued at $167,000. CIBC World Markets Inc. purchased a new stake in shares of America Movil SAB de CV ADR Series L during the first quarter valued at $229,000. Mariner LLC purchased a new stake in shares of America Movil SAB de CV ADR Series L during the first quarter valued at $260,000. Finally, Exane Derivatives boosted its stake in shares of America Movil SAB de CV ADR Series L by 37.1% during the second quarter. Exane Derivatives now owns 18,506 shares of the Wireless communications provider’s stock valued at $307,000 after purchasing an additional 5,007 shares during the period. Institutional investors and hedge funds own 7.57% of the company’s stock.

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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