Zacks Investment Research Upgrades China Mobile (CHL) to Buy

Zacks Investment Research upgraded shares of China Mobile (NYSE:CHL) from a sell rating to a buy rating in a research report report published on Tuesday. Zacks Investment Research currently has $52.00 price objective on the Wireless communications provider’s stock.

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. “

Several other research analysts have also issued reports on CHL. Nomura lowered China Mobile from a buy rating to a neutral rating in a research report on Monday, March 12th. Jefferies Group raised China Mobile from an underperform rating to a hold rating in a research report on Thursday, March 22nd. Finally, HSBC raised China Mobile from a hold rating to a buy rating in a research report on Monday, March 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $52.00.



Shares of NYSE:CHL opened at $47.02 on Tuesday. The firm has a market cap of $192,469.56, a P/E ratio of 11.38, a P/E/G ratio of 2.22 and a beta of 0.54. China Mobile has a 12-month low of $44.55 and a 12-month high of $56.93.

The firm also recently disclosed a special dividend, which will be paid on Monday, July 9th. Stockholders of record on Thursday, May 24th will be given a $1.0082 dividend. The ex-dividend date is Wednesday, May 23rd. China Mobile’s dividend payout ratio (DPR) is presently 39.95%.

Several hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of China Mobile by 18.6% in the 3rd quarter. Parallel Advisors LLC now owns 6,668 shares of the Wireless communications provider’s stock worth $341,000 after acquiring an additional 1,045 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of China Mobile by 7.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,543 shares of the Wireless communications provider’s stock worth $836,000 after acquiring an additional 1,177 shares in the last quarter. BlueCrest Capital Management Ltd raised its position in shares of China Mobile by 24.3% in the 4th quarter. BlueCrest Capital Management Ltd now owns 6,215 shares of the Wireless communications provider’s stock worth $314,000 after acquiring an additional 1,215 shares in the last quarter. SevenBridge Financial Group LLC raised its position in shares of China Mobile by 229.4% in the 4th quarter. SevenBridge Financial Group LLC now owns 2,141 shares of the Wireless communications provider’s stock worth $108,000 after acquiring an additional 1,491 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA raised its position in shares of China Mobile by 162.1% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 2,524 shares of the Wireless communications provider’s stock worth $128,000 after acquiring an additional 1,561 shares in the last quarter. 1.92% of the stock is owned by hedge funds and other institutional investors.

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About China Mobile

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

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