Zacks Investment Research Downgrades China Mobile (CHL) to Hold

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Zacks Investment Research lowered shares of China Mobile (NYSE:CHL) from a buy rating to a hold rating in a research note released on Monday, March 12th.

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 firms have also commented on CHL. Nomura lowered shares of China Mobile from a buy rating to a neutral rating in a research report on Monday, March 12th. ValuEngine raised shares of China Mobile from a hold rating to a buy rating in a research report on Friday, December 1st. Finally, HSBC raised shares of China Mobile from a hold rating to a buy rating in a research report on Monday, March 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $51.00.

Shares of NYSE CHL traded up $0.14 during midday trading on Monday, hitting $45.64. 1,578,298 shares of the company’s stock traded hands, compared to its average volume of 956,562. China Mobile has a 1 year low of $44.55 and a 1 year high of $56.93. The firm has a market capitalization of $186,408.81, a P/E ratio of 11.05, a PEG ratio of 2.22 and a beta of 0.54.

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

Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of China Mobile by 5.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,144,288 shares of the Wireless communications provider’s stock valued at $209,579,000 after acquiring an additional 195,614 shares during the period. Renaissance Technologies LLC grew its stake in shares of China Mobile by 12.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,664,964 shares of the Wireless communications provider’s stock valued at $185,227,000 after acquiring an additional 415,484 shares during the period. Macquarie Group Ltd. grew its stake in shares of China Mobile by 24.6% during the 4th quarter. Macquarie Group Ltd. now owns 3,392,565 shares of the Wireless communications provider’s stock valued at $171,460,000 after acquiring an additional 668,853 shares during the period. Ameriprise Financial Inc. grew its stake in shares of China Mobile by 12.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,577,749 shares of the Wireless communications provider’s stock valued at $78,986,000 after acquiring an additional 168,667 shares during the period. Finally, BT Investment Management Ltd grew its stake in shares of China Mobile by 45.4% during the 4th quarter. BT Investment Management Ltd now owns 1,209,908 shares of the Wireless communications provider’s stock valued at $61,149,000 after acquiring an additional 377,653 shares during the period. Institutional investors own 1.92% of the company’s stock.

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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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