Zacks Investment Research lowered shares of China Mobile (Hong Kong) Ltd. (NYSE:CHL) from a buy rating to a hold rating in a research note published on Wednesday.

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 have also recently issued reports about the company. BidaskClub upgraded China Mobile (Hong Kong) from a sell rating to a hold rating in a research note on Tuesday, July 25th. Morgan Stanley cut China Mobile (Hong Kong) from an overweight rating to an underweight rating in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $60.00.

Shares of China Mobile (NYSE CHL) opened at 53.42 on Wednesday. China Mobile has a 12-month low of $51.30 and a 12-month high of $63.89. The company has a market capitalization of $218.76 billion, a P/E ratio of 13.49 and a beta of 0.30. The company has a 50-day moving average price of $53.17 and a 200 day moving average price of $54.81.

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Several hedge funds and other institutional investors have recently made changes to their positions in CHL. Earnest Partners LLC raised its position in shares of China Mobile (Hong Kong) by 0.6% in the first quarter. Earnest Partners LLC now owns 12,155 shares of the Wireless communications provider’s stock worth $671,000 after buying an additional 73 shares in the last quarter. Parallel Advisors LLC raised its position in shares of China Mobile (Hong Kong) by 2.8% in the first quarter. Parallel Advisors LLC now owns 4,716 shares of the Wireless communications provider’s stock worth $252,000 after buying an additional 127 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of China Mobile (Hong Kong) by 0.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 34,515 shares of the Wireless communications provider’s stock worth $1,906,000 after buying an additional 163 shares in the last quarter. Foyston Gordon & Payne Inc raised its position in shares of China Mobile (Hong Kong) by 2.1% in the first quarter. Foyston Gordon & Payne Inc now owns 9,893 shares of the Wireless communications provider’s stock worth $546,000 after buying an additional 200 shares in the last quarter. Finally, TD Asset Management Inc. raised its position in shares of China Mobile (Hong Kong) by 0.9% in the first quarter. TD Asset Management Inc. now owns 25,250 shares of the Wireless communications provider’s stock worth $1,395,000 after buying an additional 214 shares in the last quarter. 2.01% of the stock is currently owned by institutional investors and hedge funds.

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 and Wireline Broadband 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.

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

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