The Goldman Sachs Group Has Lowered Expectations for América Móvil (NYSE:AMX) Stock Price

América Móvil (NYSE:AMX) had its price target lowered by equities research analysts at The Goldman Sachs Group from $20.80 to $17.80 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the Wireless communications provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 17.88% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. UBS Group dropped their price objective on shares of América Móvil from $23.30 to $22.60 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Scotiabank dropped their price target on shares of América Móvil from $17.80 to $17.30 and set a “sector perform” rating on the stock in a research note on Wednesday, October 16th. Finally, StockNews.com initiated coverage on shares of América Móvil in a research report on Thursday. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.48.

América Móvil Price Performance

Shares of AMX opened at $15.10 on Friday. The company has a market capitalization of $46.36 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 0.93 and a beta of 0.95. América Móvil has a fifty-two week low of $14.94 and a fifty-two week high of $20.31. The firm has a 50-day simple moving average of $16.21 and a 200-day simple moving average of $17.18. 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 announced its earnings results on Tuesday, October 15th. The Wireless communications provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.30). The company had revenue of $11.82 billion during the quarter, compared to analysts’ expectations of $11.97 billion. América Móvil had a net margin of 4.45% and a return on equity of 8.61%. On average, equities research analysts anticipate that América Móvil will post 1.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMX. ABS Direct Equity Fund LLC boosted its stake in shares of América Móvil by 21.4% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 413,922 shares of the Wireless communications provider’s stock worth $6,772,000 after acquiring an additional 73,022 shares in the last quarter. Barclays PLC boosted its position in América Móvil by 36,692.9% during the third quarter. Barclays PLC now owns 150,115 shares of the Wireless communications provider’s stock worth $2,456,000 after purchasing an additional 149,707 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in América Móvil in the third quarter valued at $1,341,000. EP Wealth Advisors LLC purchased a new position in shares of América Móvil in the third quarter valued at $177,000. Finally, Quantinno Capital Management LP acquired a new position in shares of América Móvil during the 3rd quarter worth $234,000. 6.30% of the stock is owned by hedge funds and other institutional investors.

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.