China Mobile (Hong Kong) Ltd. (NYSE:CHL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley cut shares of China Mobile (Hong Kong) from an “overweight” rating to an “underweight” rating in a report on Wednesday, July 5th. BidaskClub upgraded shares of China Mobile (Hong Kong) from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. China Mobile (Hong Kong) currently has a consensus rating of “Hold” and an average price target of $62.00.

Shares of China Mobile (CHL) opened at 56.15 on Friday. China Mobile has a 52-week low of $51.30 and a 52-week high of $63.26. The firm has a 50-day moving average price of $54.07 and a 200-day moving average price of $54.66. The stock has a market cap of $229.94 billion, a P/E ratio of 13.85 and a beta of 0.30.

COPYRIGHT VIOLATION NOTICE: “China Mobile (Hong Kong) Ltd. (CHL) Rating Lowered to Hold at Zacks Investment Research” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/08/27/china-mobile-hong-kong-ltd-chl-rating-lowered-to-hold-at-zacks-investment-research.html.

Large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of China Mobile (Hong Kong) by 351.7% in the first quarter. BlackRock Inc. now owns 3,114,943 shares of the Wireless communications provider’s stock worth $172,038,000 after buying an additional 2,425,378 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of China Mobile (Hong Kong) by 5.7% in the first quarter. Lazard Asset Management LLC now owns 16,123,221 shares of the Wireless communications provider’s stock worth $890,484,000 after buying an additional 864,087 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of China Mobile (Hong Kong) during the first quarter worth about $45,352,000. BT Investment Management Ltd acquired a new stake in shares of China Mobile (Hong Kong) during the second quarter worth about $42,224,000. Finally, Cambiar Investors LLC boosted its stake in shares of China Mobile (Hong Kong) by 14.5% in the first quarter. Cambiar Investors LLC now owns 4,709,589 shares of the Wireless communications provider’s stock worth $260,111,000 after buying an additional 598,115 shares in the last quarter. Hedge funds and other institutional investors own 1.96% of the company’s stock.

About China Mobile (Hong Kong)

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.

Analyst Recommendations for China Mobile (Hong Kong) (NYSE:CHL)

Receive News & Stock 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 stocks with our FREE daily email newsletter.