Zacks Investment Research Lowers Mobile TeleSystems OJSC (MBT) to Sell
Mobile TeleSystems OJSC (NYSE:MBT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “MOBILE TELE-ADR mission is to build a integrated mobile communications world, which will bring people together, enrich their lives and open up new horizons, both at work and at home. They will do this by Anticipating on and understanding of our customers’ needs, employing experienced, qualified and highly motivated personnel, introducing new technologies, and enhancing our company’s development. “
Other equities analysts have also recently issued reports about the company. Deutsche Bank AG initiated coverage on Mobile TeleSystems OJSC in a research report on Tuesday, September 12th. They issued a “buy” rating and a $12.50 price objective on the stock. BidaskClub raised Mobile TeleSystems OJSC from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. J P Morgan Chase & Co raised Mobile TeleSystems OJSC from a “neutral” rating to an “overweight” rating and set a $10.50 price objective on the stock in a research report on Wednesday, July 26th. Finally, ValuEngine raised Mobile TeleSystems OJSC from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.97.
Shares of Mobile TeleSystems OJSC (NYSE:MBT) traded down 0.87% during mid-day trading on Wednesday, reaching $10.25. The company had a trading volume of 1,335,867 shares. Mobile TeleSystems OJSC has a one year low of $7.09 and a one year high of $11.59. The company has a 50 day moving average price of $10.06 and a 200 day moving average price of $9.59. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 5.97 and a beta of 0.94.
Mobile TeleSystems OJSC (NYSE:MBT) last released its quarterly earnings data on Monday, August 28th. The Wireless communications provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $1.87 billion for the quarter. Mobile TeleSystems OJSC had a return on equity of 40.25% and a net margin of 12.42%. On average, analysts anticipate that Mobile TeleSystems OJSC will post $0.97 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL bought a new position in shares of Mobile TeleSystems OJSC during the 2nd quarter valued at $103,000. Sciencast Management LP bought a new position in shares of Mobile TeleSystems OJSC during the 2nd quarter valued at $103,000. Greenleaf Trust bought a new position in shares of Mobile TeleSystems OJSC during the 2nd quarter valued at $115,000. Lapides Asset Management LLC lifted its holdings in shares of Mobile TeleSystems OJSC by 25.7% during the 2nd quarter. Lapides Asset Management LLC now owns 14,200 shares of the Wireless communications provider’s stock valued at $119,000 after buying an additional 2,900 shares during the period. Finally, M&T Bank Corp lifted its holdings in shares of Mobile TeleSystems OJSC by 23.5% during the 2nd quarter. M&T Bank Corp now owns 14,978 shares of the Wireless communications provider’s stock valued at $126,000 after buying an additional 2,852 shares during the period. 32.11% of the stock is currently owned by hedge funds and other institutional investors.
Mobile TeleSystems OJSC Company Profile
Mobile TeleSystems Public Joint Stock Company, formerly Mobile TeleSystems Open Joint Stock Company, is a provider of telecommunications services. The Company provides mobile and fixed line voice and data telecommunications services, including data transfer, broadband, pay-television (pay-TV) and various value-added services, as well as selling equipment and accessories.
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