The Goldman Sachs Group Lowers América Móvil (NYSE:AMX) Price Target to $17.80

América Móvil (NYSE:AMX) had its target price cut by The Goldman Sachs Group from $20.80 to $17.80 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the Wireless communications provider’s stock.

A number of other brokerages have also issued reports on AMX. Scotiabank decreased their target price on América Móvil from $17.80 to $17.30 and set a “sector perform” rating on the stock in a research report on Wednesday, October 16th. UBS Group decreased their price objective on shares of América Móvil from $23.30 to $22.60 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, StockNews.com assumed coverage on shares of América Móvil in a research report on Thursday, November 14th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.48.

América Móvil Stock Down 1.1 %

AMX opened at $14.93 on Friday. The company has a fifty day moving average of $16.18 and a two-hundred day moving average of $17.13. The stock has a market capitalization of $45.84 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 0.92 and a beta of 0.95. América Móvil has a fifty-two week low of $14.87 and a fifty-two week high of $20.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.67 and a current ratio of 0.72.

América Móvil (NYSE:AMX) last released its quarterly earnings results on Tuesday, October 15th. The Wireless communications provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.30). The business had revenue of $11.82 billion during the quarter, compared to analyst estimates of $11.97 billion. América Móvil had a return on equity of 8.61% and a net margin of 4.45%. On average, research analysts expect that América Móvil will post 1.39 earnings per share for the current year.

América Móvil Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, November 18th. Stockholders of record on Friday, November 8th were given a $0.245 dividend. This represents a dividend yield of 2%. This is a boost from América Móvil’s previous semi-annual dividend of $0.18. The ex-dividend date was Friday, November 8th. América Móvil’s dividend payout ratio is 34.33%.

Institutional Trading of América Móvil

Several large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of América Móvil by 5.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,839 shares of the Wireless communications provider’s stock worth $178,000 after purchasing an additional 608 shares during the last quarter. Profund Advisors LLC boosted its stake in América Móvil by 1.7% during the second quarter. Profund Advisors LLC now owns 37,515 shares of the Wireless communications provider’s stock worth $638,000 after buying an additional 630 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in América Móvil by 6.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,707 shares of the Wireless communications provider’s stock valued at $284,000 after buying an additional 1,025 shares in the last quarter. Allworth Financial LP increased its stake in shares of América Móvil by 46.1% in the 3rd quarter. Allworth Financial LP now owns 4,964 shares of the Wireless communications provider’s stock worth $81,000 after acquiring an additional 1,567 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its stake in shares of América Móvil by 16.0% in the 2nd quarter. Wealthspire Advisors LLC now owns 13,656 shares of the Wireless communications provider’s stock worth $232,000 after acquiring an additional 1,880 shares during the last quarter. Hedge funds and other institutional investors own 6.30% of the company’s stock.

About América Móvil

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.