China Mobile (NYSE:CHL) Upgraded by Zacks Investment Research to “Hold”

China Mobile (NYSE:CHL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

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. “

A number of other research firms have also recently commented on CHL. ValuEngine upgraded China Mobile from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. cut China Mobile from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Mizuho upgraded China Mobile from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Sanford C. Bernstein upgraded China Mobile from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.22.

Shares of CHL traded down $0.33 during midday trading on Monday, reaching $41.73. 973,900 shares of the stock were exchanged, compared to its average volume of 874,016. The business’s 50-day moving average price is $41.75 and its 200 day moving average price is $44.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.11 and a quick ratio of 1.09. China Mobile has a twelve month low of $39.77 and a twelve month high of $55.84. The company has a market capitalization of $172.24 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 2.18 and a beta of 0.58.

A number of hedge funds have recently modified their holdings of the stock. Brinker Capital Inc. acquired a new position in China Mobile in the 3rd quarter valued at about $240,000. Coastline Trust Co increased its position in China Mobile by 2.9% in the 3rd quarter. Coastline Trust Co now owns 11,775 shares of the Wireless communications provider’s stock valued at $487,000 after acquiring an additional 335 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in China Mobile by 20.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,000 shares of the Wireless communications provider’s stock valued at $124,000 after acquiring an additional 500 shares during the period. Wedbush Securities Inc. increased its position in China Mobile by 15.2% in the 3rd quarter. Wedbush Securities Inc. now owns 7,446 shares of the Wireless communications provider’s stock valued at $308,000 after acquiring an additional 982 shares during the period. Finally, Reilly Financial Advisors LLC increased its position in China Mobile by 5.1% in the 3rd quarter. Reilly Financial Advisors LLC now owns 30,528 shares of the Wireless communications provider’s stock valued at $1,264,000 after acquiring an additional 1,475 shares during the period. Hedge funds and other institutional investors own 1.96% of the company’s stock.

China Mobile Company Profile

China Mobile Limited provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers local calls; domestic and international long distance calls and roaming services; and value-added services, such as caller identity display, call waiting, conference calls, and others.

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Analyst Recommendations for China Mobile (NYSE:CHL)

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