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

Zacks Investment Research lowered shares of China Unicom (Hong Kong) (NYSE:CHU) from a buy rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.
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 have also recently weighed in on the company. Nomura upgraded China Unicom (Hong Kong) from a neutral rating to a buy rating in a report on Wednesday, September 30th. ValuEngine cut China Unicom (Hong Kong) from a hold rating to a sell rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $7.00.
Shares of CHU stock opened at $6.19 on Thursday. China Unicom has a twelve month low of $5.08 and a twelve month high of $10.04. The stock has a market capitalization of $18.94 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 0.95 and a beta of 1.12. The stock has a fifty day simple moving average of $6.88 and a two-hundred day simple moving average of $6.39. The company has a current ratio of 0.49, a quick ratio of 0.47 and a debt-to-equity ratio of 0.02.
A number of institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new stake in China Unicom (Hong Kong) in the first quarter valued at approximately $156,000. State Street Corp grew its holdings in China Unicom (Hong Kong) by 248.4% in the first quarter. State Street Corp now owns 88,906 shares of the Wireless communications provider’s stock valued at $523,000 after purchasing an additional 63,387 shares during the period. Deutsche Bank AG grew its holdings in China Unicom (Hong Kong) by 8.0% in the first quarter. Deutsche Bank AG now owns 27,174 shares of the Wireless communications provider’s stock valued at $160,000 after purchasing an additional 2,013 shares during the period. Two Sigma Advisers LP lifted its position in shares of China Unicom (Hong Kong) by 104.7% in the first quarter. Two Sigma Advisers LP now owns 109,300 shares of the Wireless communications provider’s stock valued at $643,000 after acquiring an additional 55,900 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of China Unicom (Hong Kong) by 68.2% in the first quarter. Morgan Stanley now owns 2,890,853 shares of the Wireless communications provider’s stock valued at $16,998,000 after acquiring an additional 1,172,544 shares in the last quarter. 1.00% of the stock is currently owned by hedge funds and other institutional investors.
About China Unicom (Hong Kong)
China Unicom (Hong Kong) Limited, an investment holding company, provides cellular and fixed-line voice, and related value-added services in the People's Republic of China. It also provides broadband and other Internet-related, information communications technology, and business and data communications services.
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