China Mobile (CHL) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of China Mobile (NYSE:CHL) from a hold rating to a buy rating in a research note published on Tuesday morning. They currently have $56.00 price target on the Wireless communications provider’s stock.

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. “

A number of other research firms also recently commented on CHL. BNP Paribas downgraded China Mobile from a buy rating to a hold rating in a research note on Tuesday, July 31st. ValuEngine raised China Mobile from a sell rating to a hold rating in a research note on Tuesday, October 2nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $56.00.

CHL opened at $49.25 on Tuesday. China Mobile has a one year low of $43.25 and a one year high of $53.23. The firm has a market capitalization of $200.37 billion, a PE ratio of 11.92, a PEG ratio of 2.32 and a beta of 0.57.

The business also recently announced a special dividend, which was paid on Tuesday, October 9th. Investors of record on Friday, September 7th were issued a $1.1631 dividend. This represents a dividend yield of 4.2%. This is a boost from China Mobile’s previous special dividend of $1.01. The ex-dividend date of this dividend was Thursday, September 6th. China Mobile’s payout ratio is presently 50.85%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its holdings in shares of China Mobile by 10.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 12,540 shares of the Wireless communications provider’s stock worth $557,000 after acquiring an additional 1,222 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of China Mobile by 1.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 120,435 shares of the Wireless communications provider’s stock worth $5,345,000 after acquiring an additional 1,534 shares during the last quarter. KCS Wealth Advisory grew its holdings in shares of China Mobile by 13.6% in the 2nd quarter. KCS Wealth Advisory now owns 14,256 shares of the Wireless communications provider’s stock worth $633,000 after acquiring an additional 1,711 shares during the last quarter. Reilly Financial Advisors LLC grew its holdings in shares of China Mobile by 6.8% in the 2nd quarter. Reilly Financial Advisors LLC now owns 27,271 shares of the Wireless communications provider’s stock worth $1,211,000 after acquiring an additional 1,748 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of China Mobile by 1.3% in the 1st quarter. Franklin Resources Inc. now owns 148,020 shares of the Wireless communications provider’s stock worth $6,772,000 after acquiring an additional 1,830 shares during the last quarter. Institutional investors and hedge funds own 1.98% of the company’s stock.

China Mobile Company Profile

There is no company description available for China Mobile Ltd.

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