reports
- Michael Hodel
Morningstar | AMOV Updated Forecasts and Estimates from 19 Jul 2019
America Movil posted solid local performances in Mexico, Brazil, and Colombia--its three largest markets--during the second quarter, but currency weakness and challenges in smaller countries, notably Argentina, continue to weigh on reported results. We don’t expect to change our $18 fair value estimate or narrow moat rating on the firm. While we believe Movil shares are undervalued, we prefer Millicom at current prices as a means of gaining exposure to Latin American telecom. As hoped, the Me...
- Michael Hodel
Morningstar | America Movil Posts Solid Results as Mexican Wireless Pr...
America Movil posted solid local performances in Mexico, Brazil, and Colombia--its three largest markets--during the second quarter, but currency weakness and challenges in smaller countries, notably Argentina, continue to weigh on reported results. We don’t expect to change our $18 fair value estimate or narrow moat rating on the firm. While we believe Movil shares are undervalued, we prefer Millicom at current prices as a means of gaining exposure to Latin American telecom. As hoped, the Me...
- Michael Hodel
America Movil Posts Solid Results as Mexican Wireless Pricing Firms
America Movil posted solid local performances in Mexico, Brazil, and Colombia--its three largest markets--during the second quarter, but currency weakness and challenges in smaller countries, notably Argentina, continue to weigh on reported results. We don’t expect to change our $18 fair value estimate or narrow moat rating on the firm. While we believe Movil shares are undervalued, we prefer Millicom at current prices as a means of gaining exposure to Latin American telecom. As hoped, the Mex...
- Michael Hodel
Morningstar | Mexican Growth Slowed During 1Q but Better Times Appear ...
America Movil reported messy first-quarter results, with accounting changes, currency movements, and one-time items skewing comparisons. It appears wireless revenue growth slowed considerably in Mexico, the firm’s most important market. Wireless customer growth remains solid, though, and management commentary suggests better pricing in the coming months will benefit growth over the balance of 2019. Profitability was also a bright spot. We don’t expect to materially alter our $18 fair value e...
- Michael Hodel
Mexican Growth Slowed During 1Q but Better Times Appear Ahead for Amer...
America Movil reported messy first-quarter results, with accounting changes, currency movements, and one-time items skewing comparisons. It appears wireless revenue growth slowed considerably in Mexico, the firm’s most important market. Wireless customer growth remains solid, though, and management commentary suggests better pricing in the coming months will benefit growth over the balance of 2019. Profitability was also a bright spot. We don’t expect to materially alter our $18 fair value e...
- Michael Hodel
Morningstar | AMOV Updated Forecasts and Estimates from 06 Mar 2019
Narrow-moat America Movil’s fourth-quarter financial results were roughly in line with our expectations, with reported revenue declining 1% year over year. Excluding currency movements, revenue would have increased 3%. Customer growth was particularly strong in several areas, including the Mexican wireless and fixed-line businesses and the Brazilian wireless segment. On the downside, management seems content with average monthly revenue per Mexican wireless customer in the MXN 150 range. We ha...
- Michael Hodel
Morningstar | America Movil Posts Strong Fourth-Quarter Customer Growt...
Narrow-moat America Movil’s fourth-quarter financial results were roughly in line with our expectations, with reported revenue declining 1% year over year. Excluding currency movements, revenue would have increased 3%. Customer growth was particularly strong in several areas, including the Mexican wireless and fixed-line businesses and the Brazilian wireless segment. On the downside, management seems content with average monthly revenue per Mexican wireless customer in the MXN 150 range. We ha...
- Michael Hodel
America Movil Posts Strong Fourth-Quarter Customer Growth; Pricing Pow...
Narrow-moat America Movil’s fourth-quarter financial results were roughly in line with our expectations, with reported revenue declining 1% year over year. Excluding currency movements, revenue would have increased 3%. Customer growth was particularly strong in several areas, including the Mexican wireless and fixed-line businesses and the Brazilian wireless segment. On the downside, management seems content with average monthly revenue per Mexican wireless customer in the MXN 150 range. We ha...
- Michael Hodel
Morningstar | With Mexico on the Mend, We Think America Movil’s Perf...
With broad diversification across Latin America and a solid competitive position in many markets it services, we view America Movil as an attractive way to gain exposure to the region. That exposure comes with significant volatility, stemming from political, regulatory, and economic uncertainty, but we expect Movil will create value for shareholders over the long term. Movil serves 30% more customers across Latin America than its closest rival Telefonica, providing scale to ride out bumps in the...
- Michael Hodel
With Mexico on the Mend, We Think America Movil’s Performance Will C...
Currency movements created some lumpiness in America Movil’s third-quarter results, but the company performed well overall in most major markets, especially Mexico. We expect to maintain our fair value estimate at $18 per ADR and our narrow moat rating. Revenue in Mexico grew 8.4% versus a year ago, the fastest pace in several years, on steady wireless customer growth and another nice increase in revenue per customer. Movil has added nearly 1 million postpaid wireless customers over the past y...
- Allan C. Nichols
Morningstar | AMOV Updated Star Rating from 17 Jan 2019
Currency movements created some lumpiness in America Movil’s third-quarter results, but the company performed well overall in most major markets, especially Mexico. We expect to maintain our fair value estimate at $18 per ADR and our narrow moat rating. Revenue in Mexico grew 8.4% versus a year ago, the fastest pace in several years, on steady wireless customer growth and another nice increase in revenue per customer. Movil has added nearly 1 million postpaid wireless customers over the past ...
- Allan C. Nichols
Morningstar | Pealing Away Currency Moves, America Movil Remains on Tr...
Currency movements created some lumpiness in America Movil’s third-quarter results, but the company performed well overall in most major markets, especially Mexico. We expect to maintain our fair value estimate at $18 per ADR and our narrow moat rating. Revenue in Mexico grew 8.4% versus a year ago, the fastest pace in several years, on steady wireless customer growth and another nice increase in revenue per customer. Movil has added nearly 1 million postpaid wireless customers over the past ...
- Allan C. Nichols
Pealing Away Currency Moves, America Movil Remains on Track With 3Q Re...
Currency movements created some lumpiness in America Movil’s third-quarter results, but the company performed well overall in most major markets, especially Mexico. We expect to maintain our fair value estimate at $18 per ADR and our narrow moat rating. Revenue in Mexico grew 8.4% versus a year ago, the fastest pace in several years, on steady wireless customer growth and another nice increase in revenue per customer. Movil has added nearly 1 million postpaid wireless customers over the past y...
- Allan C. Nichols
Morningstar | Movil relies on its material scale advantage to overcome...
As the biggest wireless carrier in Latin America, we think America Movil will rely on its unmatched scale and solid assets to deliver profitable growth and overcome overall intense competition and regulatory uncertainty across the region. We believe the stock provides investors with an avenue to benefit from any economic growth in Latin America. Movil’s Mexican business (30% of sales and profits) boasts superb market strength that few carriers around the world possess, as Movil controls two th...
- Allan C. Nichols
Movil relies on its material scale advantage to overcome competitive a...
America Movil reported significantly improved revenue growth of 3.1% in the second quarter. While this is above our full-year revenue growth projection of 2.3%, the first half result remains negative. This improvement provides hope that the worst is over and the growth we’ve anticipated this year and going forward can be achieved. Thus, we expect to maintain our $18 per ADR fair value estimate and narrow moat rating. We believe the shares are fairly valued. In Mexico, its largest market, the ...
- Allan C. Nichols
Morningstar | Revenue Growth Strong in America Movil's 2Q, but Still N...
America Movil reported significantly improved revenue growth of 3.1% in the second quarter. While this is above our full-year revenue growth projection of 2.3%, the first half result remains negative. This improvement provides hope that the worst is over and the growth we’ve anticipated this year and going forward can be achieved. Thus, we expect to maintain our $18 per ADR fair value estimate and narrow moat rating. We believe the shares are fairly valued. In Mexico, its largest market, the...
- Allan C. Nichols
Revenue Growth Strong in America Movil's 2Q, but Still Negative for Ye...
America Movil reported significantly improved revenue growth of 3.1% in the second quarter. While this is above our full-year revenue growth projection of 2.3%, the first half result remains negative. This improvement provides hope that the worst is over and the growth we’ve anticipated this year and going forward can be achieved. Thus, we expect to maintain our $18 per ADR fair value estimate and narrow moat rating. We believe the shares are fairly valued. In Mexico, its largest market, the ...
- Allan C. Nichols
America Movil Reports in Line Organic First-Quarter Results, Though Re...
America Movil reported in line first-quarter results, and we are maintaining our $18 per ADR fair value estimate. While the firm reported revenue declined 3.7% year over year, this was due to the strengthening of the Mexican peso versus the other currencies America Movil operates in. On a constant currency basis the firm’s revenue grew 2.8% versus our full-year projection of 2.3%. We believe the shares are fairly valued. The firm ended the quarter with 362 million access lines, which is basica...
- Allan C. Nichols
- Alex Zhao
Movil relies on its material scale advantage to overcome competitive a...
We are lowering our fair value estimate for Movil to $18 per share, down from $19, due to an update in exchange rates. The current exchange rate applied is MXN 19.36 per $1 as of Jan. 5. As the biggest wireless carrier in Latin America, we think Movil will rely on its unmatched scale and solid assets to deliver profitable growth and overcome overall intense competition and regulatory uncertainty across the region. We believe the stock provides investors with an avenue to benefit from any economi...
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