China Mobile Ltd. (NYSE:CHL) – Stock analysts at Jefferies Group dropped their FY2022 earnings per share estimates for China Mobile in a research report issued to clients and investors on Monday. Jefferies Group analyst A. Lee now expects that the Wireless communications provider will post earnings per share of $3.61 for the year, down from their prior forecast of $3.81.
Several other brokerages have also recently weighed in on CHL. Zacks Investment Research raised China Mobile from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Monday, January 22nd. ValuEngine raised China Mobile from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Nomura cut China Mobile from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, HSBC raised China Mobile from a “hold” rating to a “buy” rating in a research note on Monday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $51.00.
Several hedge funds have recently modified their holdings of CHL. Edgbaston Investment Partners LLP acquired a new stake in shares of China Mobile in the fourth quarter valued at about $48,626,000. Macquarie Group Ltd. grew its stake in China Mobile by 24.6% during the fourth quarter. Macquarie Group Ltd. now owns 3,392,565 shares of the Wireless communications provider’s stock worth $171,460,000 after purchasing an additional 668,853 shares during the period. LSV Asset Management grew its stake in China Mobile by 7,510.5% during the fourth quarter. LSV Asset Management now owns 578,400 shares of the Wireless communications provider’s stock worth $29,232,000 after purchasing an additional 570,800 shares during the period. Renaissance Technologies LLC grew its stake in China Mobile by 12.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,664,964 shares of the Wireless communications provider’s stock worth $185,227,000 after purchasing an additional 415,484 shares during the period. Finally, BT Investment Management Ltd grew its stake in China Mobile by 45.4% during the fourth quarter. BT Investment Management Ltd now owns 1,209,908 shares of the Wireless communications provider’s stock worth $61,149,000 after purchasing an additional 377,653 shares during the period. 1.92% of the stock is owned by institutional investors.
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About China Mobile
China Mobile Limited is an investment holding company principally engaged in telecommunication and related businesses. Its main businesses include Mobile businesses, Wireline Broadband businesses and Internet of Things (IoT) 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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