China Mobile (CHL) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of China Mobile (NYSE:CHL) from a hold rating to a sell rating in a report published on Wednesday.

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. “

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Several other equities analysts have also weighed in on the stock. HSBC raised shares of China Mobile from a hold rating to a buy rating in a research report on Monday, March 5th. Jefferies Group raised shares of China Mobile from an underperform rating to a hold rating in a research report on Thursday, March 22nd. Finally, Nomura lowered shares of China Mobile from a buy rating to a neutral rating in a research report on Monday, March 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $51.00.

Shares of CHL opened at $45.64 on Wednesday. The company has a market cap of $186,900.22, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 2.22 and a beta of 0.54. China Mobile has a twelve month low of $44.55 and a twelve month high of $56.93.

The company also recently declared a special dividend, which will be paid on Monday, July 9th. Stockholders of record on Thursday, May 24th will be given a $1.0082 dividend. The ex-dividend date is Wednesday, May 23rd. China Mobile’s dividend payout ratio is 39.95%.

Several large investors have recently added to or reduced their stakes in CHL. SevenBridge Financial Group LLC raised its position in shares of China Mobile by 229.4% in the fourth quarter. SevenBridge Financial Group LLC now owns 2,141 shares of the Wireless communications provider’s stock valued at $108,000 after purchasing an additional 1,491 shares during the period. SeaCrest Wealth Management LLC bought a new position in shares of China Mobile in the fourth quarter valued at approximately $122,000. San Francisco Sentry Investment Group CA raised its position in shares of China Mobile by 162.1% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 2,524 shares of the Wireless communications provider’s stock valued at $128,000 after purchasing an additional 1,561 shares during the period. Icon Wealth Partners LLC bought a new position in shares of China Mobile in the fourth quarter valued at approximately $135,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of China Mobile by 61.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,237 shares of the Wireless communications provider’s stock valued at $164,000 after purchasing an additional 1,237 shares during the period. 1.92% of the stock is currently owned by institutional investors.

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About China Mobile

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

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