China Mobile (CHL) Lowered to “Neutral” at Goldman Sachs Group

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Goldman Sachs Group downgraded shares of China Mobile (NYSE:CHL) from a buy rating to a neutral rating in a report released on Monday morning, BenzingaRatingsTable reports. Goldman Sachs Group currently has $55.00 target price on the Wireless communications provider’s stock, down from their prior target price of $64.00.

Several other analysts also recently commented on CHL. Zacks Investment Research upgraded shares of China Mobile from a sell rating to a hold rating in a research report on Friday, January 4th. Nomura upgraded shares of China Mobile from a neutral rating to a buy rating in a research report on Monday, January 7th. New Street Research downgraded shares of China Mobile from a buy rating to a neutral rating in a research report on Tuesday, January 22nd. BNP Paribas downgraded shares of China Mobile from an outperform rating to a neutral rating in a research report on Wednesday, February 13th. Finally, Jefferies Financial Group upgraded shares of China Mobile from a hold rating to a buy rating in a research report on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $56.50.

Shares of CHL stock opened at $48.50 on Monday. The firm has a market cap of $199.39 billion, a PE ratio of 11.74, a PEG ratio of 2.70 and a beta of 0.64. China Mobile has a one year low of $43.25 and a one year high of $55.84.

The business also recently declared a semiannual dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, May 24th will be issued a $0.8863 dividend. This is an increase from China Mobile’s previous semiannual dividend of $0.80. This represents a yield of 3.41%. The ex-dividend date is Thursday, May 23rd. China Mobile’s payout ratio is currently 50.85%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC bought a new stake in China Mobile in the 4th quarter valued at $27,000. Sontag Advisory LLC bought a new stake in China Mobile in the 4th quarter valued at $28,000. Cornerstone Advisors Inc. increased its holdings in China Mobile by 121.2% in the 3rd quarter. Cornerstone Advisors Inc. now owns 637 shares of the Wireless communications provider’s stock valued at $31,000 after acquiring an additional 349 shares during the last quarter. Global Retirement Partners LLC increased its holdings in China Mobile by 1,169.5% in the 4th quarter. Global Retirement Partners LLC now owns 749 shares of the Wireless communications provider’s stock valued at $36,000 after acquiring an additional 690 shares during the last quarter. Finally, NumerixS Investment Technologies Inc bought a new stake in China Mobile in the 4th quarter valued at $38,000. Institutional investors own 2.02% of the company’s stock.

About China Mobile

China Mobile Limited, an investment holding company, provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers voice services, including 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.

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Analyst Recommendations for China Mobile (NYSE:CHL)

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