China Mobile (Hong Kong) Ltd. (CHL) Downgraded by Zacks Investment Research to “Hold”
China Mobile (Hong Kong) Ltd. (NYSE:CHL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “China Mobile offers mobile communications services principally using Global System for Mobile Communications, or GSM, which is a pan-European mobile telephone system based on digital transmission and mobile communications network architecture with roaming capabilities. Our GSM networks reach all cities and counties and most major roads and highways in our service regions. “
Other equities analysts have also issued reports about the company. BidaskClub raised China Mobile (Hong Kong) from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Morgan Stanley lowered China Mobile (Hong Kong) from an “overweight” rating to an “underweight” rating in a research report on Wednesday, July 5th. Finally, Bank of America Corporation assumed coverage on China Mobile (Hong Kong) in a research report on Wednesday, August 30th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $63.00.
China Mobile (NYSE CHL) traded up 1.00% during mid-day trading on Friday, hitting $52.45. 745,445 shares of the company were exchanged. The stock has a market cap of $214.79 billion, a price-to-earnings ratio of 12.81 and a beta of 0.31. The firm has a 50 day moving average price of $54.12 and a 200 day moving average price of $54.31. China Mobile has a 12 month low of $51.30 and a 12 month high of $63.26.
COPYRIGHT VIOLATION WARNING: This article was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another domain, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/09/15/china-mobile-hong-kong-ltd-chl-downgraded-by-zacks-investment-research-to-hold-2.html.
Hedge funds have recently bought and sold shares of the business. JFS Wealth Advisors LLC increased its holdings in China Mobile (Hong Kong) by 19.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,138 shares of the Wireless communications provider’s stock worth $114,000 after purchasing an additional 342 shares during the last quarter. Israel Discount Bank of New York purchased a new stake in China Mobile (Hong Kong) during the 1st quarter worth approximately $119,000. SRS Capital Advisors Inc. increased its holdings in China Mobile (Hong Kong) by 67.1% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,635 shares of the Wireless communications provider’s stock worth $145,000 after purchasing an additional 1,058 shares during the last quarter. Signaturefd LLC purchased a new stake in China Mobile (Hong Kong) during the 1st quarter worth approximately $203,000. Finally, High Pointe Capital Management LLC purchased a new stake in China Mobile (Hong Kong) during the 2nd quarter worth approximately $205,000. Institutional investors own 1.97% of the company’s stock.
China Mobile (Hong Kong) Company Profile
China Mobile Limited is an investment holding company principally engaged in telecommunication and related businesses. Its main businesses include Mobile businesses, Wireline Broadband businesses and Internet of Things (IoT) businesses. Mobile businesses include two categories of services. Voice services include local calls, domestic and international long distance calls, roaming services and voice value-added services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for China Mobile (Hong Kong) Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Mobile (Hong Kong) Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.