Zacks Investment Research Upgrades China Unicom (Hong Kong) (CHU) to Hold

China Unicom (Hong Kong) (NYSE:CHU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China. “

Several other brokerages have also recently issued reports on CHU. Mizuho cut shares of China Unicom (Hong Kong) from a “neutral” rating to an “underperform” rating in a research report on Thursday, June 7th. TheStreet upgraded shares of China Unicom (Hong Kong) from a “d+” rating to a “c” rating in a report on Tuesday, August 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. China Unicom (Hong Kong) presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Shares of NYSE CHU traded down $0.12 during midday trading on Monday, hitting $11.92. 298,000 shares of the company traded hands, compared to its average volume of 316,712. China Unicom has a 12-month low of $11.25 and a 12-month high of $15.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $35.89 billion, a P/E ratio of 108.36 and a beta of 0.91.

A number of institutional investors and hedge funds have recently made changes to their positions in CHU. FMR LLC grew its holdings in China Unicom (Hong Kong) by 19.0% in the second quarter. FMR LLC now owns 5,811,872 shares of the Wireless communications provider’s stock worth $72,707,000 after purchasing an additional 928,193 shares during the period. Millennium Management LLC grew its holdings in China Unicom (Hong Kong) by 423.1% in the second quarter. Millennium Management LLC now owns 414,168 shares of the Wireless communications provider’s stock worth $5,181,000 after purchasing an additional 334,990 shares during the period. BlackRock Inc. grew its holdings in China Unicom (Hong Kong) by 335.9% in the first quarter. BlackRock Inc. now owns 428,846 shares of the Wireless communications provider’s stock worth $5,502,000 after purchasing an additional 330,467 shares during the period. Royal Bank of Canada grew its holdings in China Unicom (Hong Kong) by 15.6% in the first quarter. Royal Bank of Canada now owns 1,738,454 shares of the Wireless communications provider’s stock worth $22,303,000 after purchasing an additional 234,242 shares during the period. Finally, Northern Trust Corp grew its holdings in China Unicom (Hong Kong) by 25.0% in the first quarter. Northern Trust Corp now owns 1,112,042 shares of the Wireless communications provider’s stock worth $14,268,000 after purchasing an additional 222,541 shares during the period. Institutional investors and hedge funds own 1.06% of the company’s stock.

About China Unicom (Hong Kong)

China Unicom (Hong Kong) Limited, an integrated telecommunications operator, provides telecommunications services and telecommunications products worldwide. It offers mobile voice services that enable its subscribers to make and receive phone calls comprising local calls, domestic and international long-distance calls, intra-provincial roaming, inter-provincial roaming, and international roaming; and mobile data, mobile reading, mobile music, WO app store, SMS, personalized ring-back tone, and other wireless information services.

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