China Mobile (CHL) Rating Lowered to Hold at Zacks Investment Research

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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 report sent to investors on Tuesday morning.

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. “

CHL has been the subject of a number of other reports. Credit Suisse Group downgraded China Mobile from an outperform rating to a neutral rating in a research report on Friday, October 26th. ValuEngine raised China Mobile from a sell rating to a hold rating in a research report on Tuesday, October 2nd. Finally, BNP Paribas downgraded China Mobile from a buy rating to a hold rating in a research report on Tuesday, July 31st. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. China Mobile presently has a consensus rating of Hold and an average target price of $56.00.

Shares of NYSE:CHL opened at $46.91 on Tuesday. The stock has a market cap of $190.14 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 2.72 and a beta of 0.65. China Mobile has a 12-month low of $43.25 and a 12-month high of $53.23.

The firm also recently disclosed a special dividend, which was paid on Tuesday, October 9th. Investors of record on Friday, September 7th were given a dividend of $1.1631 per share. This represents a dividend yield of 4.2%. This is an increase from China Mobile’s previous special dividend of $1.01. The ex-dividend date of this dividend was Thursday, September 6th. China Mobile’s dividend payout ratio (DPR) is presently 50.85%.

Several large investors have recently modified their holdings of CHL. NumerixS Investment Technologies Inc acquired a new position in China Mobile in the 2nd quarter valued at about $129,000. Synovus Financial Corp grew its position in China Mobile by 61.2% in the 3rd quarter. Synovus Financial Corp now owns 2,938 shares of the Wireless communications provider’s stock valued at $144,000 after acquiring an additional 1,115 shares in the last quarter. Congress Park Capital LLC acquired a new position in China Mobile in the 2nd quarter valued at about $204,000. HighPoint Advisor Group LLC acquired a new position in China Mobile in the 3rd quarter valued at about $213,000. Finally, Cozad Asset Management Inc. acquired a new position in China Mobile in the 2nd quarter valued at about $219,000. 1.99% of the stock is owned by hedge funds and other institutional investors.

About China Mobile

China Mobile Limited, an investment holding company, provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers voice services, including local calls; domestic and international long distance calls and roaming services; and value-added services, such as caller identity display, call waiting, conference calls, and others.

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