America Movil (NYSE:AMX) Stock Price Up 6.8% on Strong Earnings

America Movil, S.A.B. de C.V. Unsponsored ADR (NYSE:AMX)’s stock price shot up 6.8% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $24.15 and last traded at $24.4530. Approximately 1,327,695 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 2,181,261 shares. The stock had previously closed at $22.90.

The Wireless communications provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. America Movil had a net margin of 9.38% and a return on equity of 20.33%. The business had revenue of $14.53 billion during the quarter, compared to analyst estimates of $13.49 billion.

Wall Street Analyst Weigh In

AMX has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of America Movil from a “neutral” rating to an “overweight” rating and increased their target price for the company from $30.00 to $32.00 in a research report on Tuesday, August 18th. Wall Street Zen lowered shares of America Movil from a “strong-buy” rating to a “buy” rating in a report on Monday, July 20th. Santander raised shares of America Movil from a “neutral” rating to an “outperform” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of America Movil in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.52.

Hedge Funds Weigh In On America Movil

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC raised its position in shares of America Movil by 17.8% in the 1st quarter. Lazard Asset Management LLC now owns 20,807,915 shares of the Wireless communications provider’s stock valued at $530,186,000 after purchasing an additional 3,140,360 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of America Movil by 3.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 7,475,816 shares of the Wireless communications provider’s stock worth $158,413,000 after buying an additional 251,941 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of America Movil by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,305,379 shares of the Wireless communications provider’s stock worth $109,695,000 after buying an additional 90,217 shares during the last quarter. Amundi lifted its stake in shares of America Movil by 11.2% during the first quarter. Amundi now owns 2,381,539 shares of the Wireless communications provider’s stock worth $60,682,000 after buying an additional 239,057 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of America Movil by 314.2% during the first quarter. Bank of America Corp DE now owns 2,272,406 shares of the Wireless communications provider’s stock worth $57,901,000 after buying an additional 1,723,717 shares during the period. Institutional investors and hedge funds own 6.30% of the company’s stock.

America Movil Stock Up 7.0%

The stock has a market capitalization of $73.66 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.16 and a beta of 0.59. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.66. The business’s fifty day moving average price is $22.69 and its two-hundred day moving average price is $24.85.

America Movil Company Profile

América Móvil, SAB. de C.V. is a Mexico-based telecommunications company that provides wireless and fixed-line communications services. Its offerings include mobile voice and data, broadband internet, landline telephone service, pay television, digital services, and enterprise telecommunications solutions. The company serves individual consumers, businesses, and government customers.

América Móvil operates across Latin America, the United States, and parts of Europe. Its principal brands include Telcel in Mexico and Claro in several Latin American markets.