Cellcom Israel, Ltd. (NYSE:CEL) Downgraded to “Sell” at Citigroup Inc.
Citigroup Inc. cut shares of Cellcom Israel, Ltd. (NYSE:CEL) from a neutral rating to a sell rating in a research report report published on Wednesday, Marketbeat.com reports.
Cellcom Israel (NYSE CEL) opened at 9.2596 on Wednesday. Cellcom Israel has a 52 week low of $6.69 and a 52 week high of $11.19. The company has a 50-day moving average price of $9.41 and a 200-day moving average price of $10.00. The stock has a market cap of $931.55 million, a price-to-earnings ratio of 28.8461 and a beta of 2.12.
Cellcom Israel (NYSE:CEL) last issued its earnings results on Wednesday, May 24th. The technology company reported $0.07 EPS for the quarter. Cellcom Israel had a net margin of 2.95% and a return on equity of 8.78%. The firm had revenue of $264 million during the quarter. Equities research analysts anticipate that Cellcom Israel will post $0.44 EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in CEL. Wellington Management Group LLP bought a new position in Cellcom Israel during the first quarter valued at about $321,000. Edmond DE Rothschild Holding S.A. increased its position in Cellcom Israel by 8.8% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 33,950 shares of the technology company’s stock valued at $352,000 after buying an additional 2,750 shares in the last quarter. Bank of America Corp DE increased its position in Cellcom Israel by 153.2% in the first quarter. Bank of America Corp DE now owns 47,781 shares of the technology company’s stock valued at $492,000 after buying an additional 28,910 shares in the last quarter. Credit Suisse AG increased its position in Cellcom Israel by 61.6% in the first quarter. Credit Suisse AG now owns 61,754 shares of the technology company’s stock valued at $635,000 after buying an additional 23,544 shares in the last quarter. Finally, Eagle Global Advisors LLC increased its position in Cellcom Israel by 15.4% in the second quarter. Eagle Global Advisors LLC now owns 75,000 shares of the technology company’s stock valued at $719,000 after buying an additional 10,000 shares in the last quarter. Institutional investors own 6.22% of the company’s stock.
About Cellcom Israel
Cellcom Israel Ltd. is engaged in the provision of cellular telephone services. The Company offers fixed-line services. The Company operates in two segments: Cellular and Fixed-line. The cellular segment includes the cellular communications services, end user cellular equipment and supplemental services.
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