Morgan Stanley Lowers China Mobile (Hong Kong) Ltd. (NYSE:CHL) to Underweight

Morgan Stanley cut shares of China Mobile (Hong Kong) Ltd. (NYSE:CHL) from an overweight rating to an underweight rating in a research note released on Wednesday morning, MarketBeat reports.

Several other brokerages have also commented on CHL. HSBC Holdings plc lowered shares of China Mobile (Hong Kong) from a buy rating to a hold rating in a research note on Thursday, March 23rd. Zacks Investment Research lowered shares of China Mobile (Hong Kong) from a hold rating to a sell rating in a research note on Monday, May 1st. Finally, BidaskClub lowered shares of China Mobile (Hong Kong) from a hold rating to a sell rating in a research note on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $60.00.

Shares of China Mobile (NYSE CHL) traded down 0.08% during trading on Wednesday, hitting $51.71. The stock had a trading volume of 72,388 shares. The stock has a market cap of $211.76 billion, a P/E ratio of 13.11 and a beta of 0.30. China Mobile has a one year low of $51.30 and a one year high of $63.89. The stock’s 50 day moving average price is $54.48 and its 200-day moving average price is $54.83.

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The business also recently disclosed a semiannual dividend, which will be paid on Monday, July 10th. Investors of record on Friday, June 2nd will be issued a dividend of $0.80 per share. This represents a yield of 2.94%. The ex-dividend date is Wednesday, May 31st.

A number of hedge funds have recently added to or reduced their stakes in CHL. Israel Discount Bank of New York GFN acquired a new stake in shares of China Mobile (Hong Kong) during the fourth quarter valued at about $107,000. Israel Discount Bank of New York acquired a new stake in shares of China Mobile (Hong Kong) during the first quarter valued at about $119,000. Integrated Investment Consultants LLC increased its stake in shares of China Mobile (Hong Kong) by 10.0% in the first quarter. Integrated Investment Consultants LLC now owns 2,619 shares of the Wireless communications provider’s stock valued at $145,000 after buying an additional 239 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of China Mobile (Hong Kong) by 67.1% in the first quarter. SRS Capital Advisors Inc. now owns 2,635 shares of the Wireless communications provider’s stock valued at $145,000 after buying an additional 1,058 shares during the period. Finally, Signaturefd LLC acquired a new stake in shares of China Mobile (Hong Kong) during the first quarter valued at about $203,000. 2.01% of the stock is currently owned by hedge funds and other institutional investors.

China Mobile (Hong Kong) Company Profile

China Mobile Limited is an investment holding company principally engaged in telecommunication and related businesses. Its main businesses include Mobile businesses and Wireline Broadband 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.

Analyst Recommendations for China Mobile (Hong Kong) (NYSE:CHL)

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