China Unicom (Hong Kong) (CHU) Lowered to Sell at Zacks Investment Research

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China Unicom (Hong Kong) (NYSE:CHU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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. “

Separately, Mizuho cut shares of China Unicom (Hong Kong) from a “neutral” rating to an “underperform” rating in a research note on Thursday, June 7th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. China Unicom (Hong Kong) has an average rating of “Hold” and a consensus target price of $14.00.

CHU opened at $11.60 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.31 and a current ratio of 0.32. The stock has a market capitalization of $37.21 billion, a price-to-earnings ratio of 105.45 and a beta of 0.89. China Unicom has a twelve month low of $11.25 and a twelve month high of $16.55.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in China Unicom (Hong Kong) by 19.0% in the second quarter. FMR LLC now owns 5,811,872 shares of the Wireless communications provider’s stock valued at $72,707,000 after acquiring an additional 928,193 shares during the last quarter. Thornburg Investment Management Inc. boosted its stake in China Unicom (Hong Kong) by 38.2% in the first quarter. Thornburg Investment Management Inc. now owns 2,683,489 shares of the Wireless communications provider’s stock valued at $34,429,000 after acquiring an additional 741,484 shares during the last quarter. Royal Bank of Canada boosted its stake in China Unicom (Hong Kong) by 15.6% in the first quarter. Royal Bank of Canada now owns 1,738,454 shares of the Wireless communications provider’s stock valued at $22,303,000 after acquiring an additional 234,242 shares during the last quarter. Bank of America Corp DE boosted its stake in China Unicom (Hong Kong) by 8.7% in the second quarter. Bank of America Corp DE now owns 1,565,827 shares of the Wireless communications provider’s stock valued at $19,589,000 after acquiring an additional 125,929 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in China Unicom (Hong Kong) by 14.0% in the second quarter. Renaissance Technologies LLC now owns 1,366,204 shares of the Wireless communications provider’s stock valued at $17,091,000 after acquiring an additional 167,704 shares during the last quarter. Hedge funds and other institutional investors own 0.98% of the company’s stock.

China Unicom (Hong Kong) Company Profile

China Unicom (Hong Kong) Limited, an integrated telecommunications operator, provides telecommunications services and telecommunications products worldwide. It offers mobile voice services that enable its subscribers to make and receive phone calls comprising local calls, domestic and international long-distance calls, intra-provincial roaming, inter-provincial roaming, and international roaming; and mobile data, mobile reading, mobile music, WO app store, SMS, personalized ring-back tone, and other wireless information services.

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