Zacks Investment Research Lowers China Unicom (Hong Kong) Ltd (NYSE:CHU) to Hold

China Unicom (Hong Kong) Ltd (NYSE:CHU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, June 27th.

According to Zacks, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China. “

Several other equities research analysts also recently commented on CHU. BidaskClub downgraded China Unicom (Hong Kong) from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Macquarie assumed coverage on China Unicom (Hong Kong) in a research note on Thursday, March 23rd. They set an “outperform” rating for the company. Jefferies Group LLC raised China Unicom (Hong Kong) from an “underperform” rating to a “buy” rating in a research note on Thursday, April 27th. Finally, Deutsche Bank AG raised China Unicom (Hong Kong) from a “hold” rating to a “buy” rating in a research note on Wednesday, March 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $14.25.

Shares of China Unicom (NYSE CHU) opened at 14.47 on Tuesday. The company has a market cap of $34.65 billion, a price-to-earnings ratio of 241.17 and a beta of 0.75. China Unicom has a 12-month low of $10.01 and a 12-month high of $15.15. The stock has a 50 day moving average of $14.33 and a 200 day moving average of $12.91.

ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Lowers China Unicom (Hong Kong) Ltd (NYSE:CHU) to Hold” was reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://transcriptdaily.com/2017/07/18/china-unicom-hong-kong-ltd-chu-downgraded-to-hold-at-zacks-investment-research-updated-updated.html.

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in China Unicom (Hong Kong) during the fourth quarter valued at approximately $852,000. Comerica Bank increased its position in China Unicom (Hong Kong) by 11.9% in the fourth quarter. Comerica Bank now owns 135,742 shares of the Wireless communications provider’s stock valued at $1,558,000 after buying an additional 14,431 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in China Unicom (Hong Kong) during the fourth quarter valued at approximately $116,000. Capstone Asset Management Co. increased its position in China Unicom (Hong Kong) by 0.3% in the first quarter. Capstone Asset Management Co. now owns 39,839 shares of the Wireless communications provider’s stock valued at $537,000 after buying an additional 130 shares during the period. Finally, Profund Advisors LLC increased its position in China Unicom (Hong Kong) by 41.9% in the first quarter. Profund Advisors LLC now owns 51,794 shares of the Wireless communications provider’s stock valued at $698,000 after buying an additional 15,305 shares during the period. Institutional investors own 1.21% of the company’s stock.

China Unicom (Hong Kong) Company Profile

China Unicom (Hong Kong) Limited is a Hong Kong-based investment holding company principally engaged in the provision of telecommunications services. The Company’s businesses include mobile businesses, fixed-line businesses and others. Its mobile businesses include the provision of call services, roaming services, mobile broadband services, traditional value-added services such as short message services, multimedia message services and wireless Internet access card, as well as new value-added services such as mobile music, mobile television and Wo portal services.

Get a free copy of the Zacks research report on China Unicom (Hong Kong) (CHU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for China Unicom (Hong Kong) (NYSE:CHU)

Receive News & Ratings for China Unicom (Hong Kong) Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Unicom (Hong Kong) Ltd and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply