Zacks Investment Research Downgrades China Mobile (CHL) to Sell

China Mobile (NYSE:CHL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

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. “

Several other analysts also recently commented on CHL. New Street Research downgraded China Mobile from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 22nd. BNP Paribas downgraded China Mobile from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 13th. Jefferies Financial Group raised China Mobile from a “hold” rating to a “buy” rating in a research note on Monday, March 11th. HSBC cut China Mobile from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Finally, Citigroup reiterated a “buy” rating on shares of China Mobile in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $53.22.

China Mobile stock traded down $0.14 during mid-day trading on Monday, hitting $46.00. 837,358 shares of the company’s stock were exchanged, compared to its average volume of 1,006,833. China Mobile has a fifty-two week low of $43.25 and a fifty-two week high of $55.84.

A number of hedge funds have recently added to or reduced their stakes in CHL. Vanguard Group Inc. grew its holdings in shares of China Mobile by 23.6% in the 3rd quarter. Vanguard Group Inc. now owns 701,029 shares of the Wireless communications provider’s stock valued at $34,301,000 after acquiring an additional 133,683 shares in the last quarter. Federated Investors Inc. PA bought a new position in China Mobile in the third quarter valued at approximately $10,074,000. Vanguard Group Inc increased its stake in China Mobile by 23.6% in the third quarter. Vanguard Group Inc now owns 701,029 shares of the Wireless communications provider’s stock valued at $34,301,000 after acquiring an additional 133,683 shares during the last quarter. Boston Advisors LLC bought a new position in China Mobile in the fourth quarter valued at approximately $232,000. Finally, We Are One Seven LLC bought a new position in China Mobile in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 2.02% of the company’s stock.

China Mobile Company Profile

China Mobile Limited provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers 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.

Read More: What are benefits of a growth and income fund?

Get a free copy of the Zacks research report on China Mobile (CHL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for China Mobile (NYSE:CHL)

Receive News & Ratings for China Mobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Mobile and related companies with MarketBeat.com's FREE daily email newsletter.