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AMX · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is America Movil S.A.B de C.V American Depositary Shares (AMX) stock moving?
AMX closed at 25.76 on Nov 10, up about 8.9% from the 23.66 close on Oct 28, and close to the Nov 9 high of 25.90. The rise has come on average volume of roughly 2.6M shares over the last eight sessions, with no single-day spike, so buying has been steady rather than frantic. Recent catalysts are the Oct 30 analyst target raise to $27.93, which still implies about 8% upside from the current price, and the Q3 2026 results released Oct 22. Those results showed solid operating momentum: EBITDA up 8.9%, margin up 0.5 points to 40.8%, operating profit up 13.9%, and service revenue growth of 5.3% at constant exchange rates, with mobile service growth steady at 6.3%. Weaker points include financing costs up to 22.6B pesos on FX losses, 5.0M prepaid disconnections from base clean-ups, and a modest Q3 Pay TV add of 50 thousand. The Desktop acquisition in Brazil closed Oct 1 and is small relative to the group. The ex-dividend date of Nov 10 is a routine event with a negligible payment. Recent price action points to better sentiment, but the stock is near its recent highs after a fast move, which limits the near-term edge.
News behind the analysis
- América Móvil Announces Ex-Dividend Date for November 10, 2026América Móvil set November 10, 2026 as its ex-dividend date, with a dividend of 0.01464 USD per share. The payment is small relative to the share price.
- América Móvil 12-Month Price Target Raised to $27.93Analysts raised the 12-month price target to $27.93, implying about 16% upside at the time. Shares have since risen further, narrowing the remaining upside to the target.
- América Móvil announces financial and operating results for the third quarter of 2026Q3 revenue rose 7.6% to 251B pesos and EBITDA rose 8.9% to 102B pesos, with a 40.8% margin. Net income rose 7.0% to 24B pesos, while financing costs rose to 22.6B pesos on 3.6B of FX losses. Postpaid net additions were 3.1M, but prepaid disconnections reached 5.0M.
- America Movil acquires Desktop in BrazilA Brazilian subsidiary closed the acquisition of 72.83% of Desktop, S.A.'s capital stock. The deal is a small addition to a company of this size.
About America Movil S.A.B de C.V American Depositary Shares (each representing the right to receive twenty (20) Series B Shares)
América Móvil is Latin America's largest telecom operator, based in Mexico City. It runs brands like Telcel and Telmex in Mexico and Claro across Brazil, Colombia, Peru, Central America and other countries, plus A1 in Central and Eastern Europe. It is controlled by the Slim family and had about 413 million access lines as of September 2026. Each US ADR represents 20 Series B shares.
How it makes money
Most revenue comes from mobile service: postpaid and prepaid plans, data and roaming. This is the largest and fastest-growing part of the business. Fixed-line services (broadband, pay TV and voice) are the next-biggest source, along with selling handsets and equipment and providing corporate and IT services. Mexico and Brazil are its largest markets. Quarterly revenue in 2026 was roughly MXN 240–250 billion, with an EBITDA margin (a measure of operating profit before depreciation) of about 40%.
What usually moves AMX
- Mexican peso and Brazilian real exchange rates versus the dollar
- Postpaid and fiber broadband subscriber growth
- Telecom regulation and competition in Mexico and Brazil
- Capital spending, debt levels and shareholder returns
- Latin American economic conditions and interest rates