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

Other equities research analysts also recently issued research reports about the stock. Bank of America Corporation began coverage on shares of China Mobile (Hong Kong) in a research report on Wednesday, August 30th. They set a “buy” rating for the company. BidaskClub raised shares of China Mobile (Hong Kong) from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Morgan Stanley downgraded shares of China Mobile (Hong Kong) from an “overweight” rating to an “underweight” rating in a report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $63.00.

Shares of China Mobile (NYSE CHL) opened at 52.45 on Friday. The company has a 50 day moving average price of $54.12 and a 200-day moving average price of $54.31. China Mobile has a 12 month low of $51.30 and a 12 month high of $63.26. The stock has a market cap of $214.79 billion, a P/E ratio of 12.81 and a beta of 0.31.

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Institutional investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC boosted its holdings in China Mobile (Hong Kong) by 19.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,138 shares of the Wireless communications provider’s stock worth $114,000 after buying an additional 342 shares during the period. Israel Discount Bank of New York bought a new position in China Mobile (Hong Kong) in the 1st quarter worth $119,000. SRS Capital Advisors Inc. boosted its holdings in China Mobile (Hong Kong) by 67.1% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,635 shares of the Wireless communications provider’s stock worth $145,000 after buying an additional 1,058 shares during the period. Signaturefd LLC bought a new position in China Mobile (Hong Kong) in the 1st quarter worth $203,000. Finally, High Pointe Capital Management LLC bought a new position in China Mobile (Hong Kong) in the 2nd quarter worth $205,000. 1.97% of the stock is owned by institutional investors.

China Mobile (Hong Kong) Company Profile

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)

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