Zacks Investment Research lowered shares of Am�rica M�vil (NYSE:AMX) from a hold rating to a strong sell rating in a research note published on Tuesday.
According to Zacks, “America Movil follows an aggressive promotional strategy to increase its penetration in the smartphone market. The company is striving hard to increase it smartphone sales figures through promotion discounts and subsidized offers. These efforts may contract margins, affecting overall profitability of the company in the near term. The U.S. telecom behemoth AT&T’s entry into the Mexican telecom industry with the acquisition of Gurpo Iusacell and Nextel de Mexico for approximately $4.4 billion is a major setback for America Movil. Strict switching policy has also led to massive customer churn in Peru and Ecuador and is a concern for the company. However, offering of iPhone has enabled America Movil to counter competition in a more effective manner while boosting customer adoption of 3G services, thereby stimulating ARPU (average revenue per user) growth. It has outperformed the industry in the last three months on an average.”
AMX has been the topic of several other reports. Credit Suisse Group set a $21.00 price objective on shares of Am�rica M�vil and gave the company a buy rating in a research report on Tuesday, March 6th. Barclays reissued a buy rating and set a $21.00 price objective on shares of Am�rica M�vil in a research report on Friday, January 19th. Santander raised shares of Am�rica M�vil from a hold rating to a buy rating in a research report on Thursday, December 21st. Goldman Sachs started coverage on shares of Am�rica M�vil in a research report on Tuesday. They set a buy rating and a $25.00 price objective on the stock. Finally, Scotiabank set a $20.00 price objective on shares of Am�rica M�vil and gave the company a buy rating in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. Am�rica M�vil currently has an average rating of Hold and an average price target of $19.67.
Shares of AMX stock opened at $19.44 on Tuesday. Am�rica M�vil has a one year low of $14.22 and a one year high of $19.76. The stock has a market cap of $64,256.61, a P/E ratio of 29.92, a PEG ratio of 1.27 and a beta of 0.49. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 2.48.
Am�rica M�vil (NYSE:AMX) last announced its quarterly earnings data on Tuesday, February 13th. The Wireless communications provider reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.30). Am�rica M�vil had a net margin of 2.68% and a return on equity of 16.30%. The firm had revenue of $13.92 billion for the quarter, compared to analysts’ expectations of $14.28 billion. analysts forecast that Am�rica M�vil will post 0.97 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of AMX. BlackRock Inc. lifted its stake in Am�rica M�vil by 34.2% during the 4th quarter. BlackRock Inc. now owns 13,078,397 shares of the Wireless communications provider’s stock valued at $224,294,000 after acquiring an additional 3,330,912 shares during the period. USS Investment Management Ltd lifted its stake in Am�rica M�vil by 64.6% during the 4th quarter. USS Investment Management Ltd now owns 2,688,185 shares of the Wireless communications provider’s stock valued at $46,116,000 after acquiring an additional 1,055,000 shares during the period. Driehaus Capital Management LLC bought a new position in Am�rica M�vil during the 4th quarter valued at about $16,064,000. Jane Street Group LLC lifted its stake in Am�rica M�vil by 2,093.0% during the 4th quarter. Jane Street Group LLC now owns 565,110 shares of the Wireless communications provider’s stock valued at $9,746,000 after acquiring an additional 539,341 shares during the period. Finally, Sei Investments Co. lifted its stake in Am�rica M�vil by 48.5% during the 4th quarter. Sei Investments Co. now owns 1,187,839 shares of the Wireless communications provider’s stock valued at $20,371,000 after acquiring an additional 387,906 shares during the period. Institutional investors and hedge funds own 7.71% of the company’s stock.
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About Am�rica M�vil
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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