China Unicom (Hong Kong) (CHU) Raised to “Buy” at New Street Research

New Street Research upgraded shares of China Unicom (Hong Kong) (NYSE:CHU) from a neutral rating to a buy rating in a research report released on Friday morning, The Fly reports.

A number of other equities research analysts also recently weighed in on CHU. Zacks Investment Research raised China Unicom (Hong Kong) from a sell rating to a hold rating in a report on Friday, January 4th. Bank of America raised China Unicom (Hong Kong) from a neutral rating to a buy rating in a report on Tuesday, January 22nd. Finally, TheStreet raised China Unicom (Hong Kong) from a d+ rating to a c rating in a report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $12.00.

NYSE CHU opened at $11.75 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.34 and a current ratio of 0.35. The company has a market cap of $36.66 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 0.33 and a beta of 0.94. China Unicom has a 1-year low of $10.33 and a 1-year high of $14.42.

The firm also recently announced an annual dividend, which will be paid on Monday, June 24th. Stockholders of record on Thursday, May 16th will be issued a $0.1995 dividend. This is an increase from China Unicom (Hong Kong)’s previous annual dividend of $0.08. This represents a dividend yield of 1.52%. The ex-dividend date is Wednesday, May 15th. China Unicom (Hong Kong)’s payout ratio is presently 14.00%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC boosted its holdings in shares of China Unicom (Hong Kong) by 145.3% in the 1st quarter. Lindbrook Capital LLC now owns 2,075 shares of the Wireless communications provider’s stock worth $26,000 after acquiring an additional 1,229 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of China Unicom (Hong Kong) in the 4th quarter worth approximately $33,000. Quadrant Capital Group LLC boosted its holdings in shares of China Unicom (Hong Kong) by 867.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,843 shares of the Wireless communications provider’s stock worth $71,000 after acquiring an additional 6,136 shares in the last quarter. We Are One Seven LLC acquired a new position in shares of China Unicom (Hong Kong) in the 4th quarter worth approximately $130,000. Finally, Wetherby Asset Management Inc. boosted its holdings in shares of China Unicom (Hong Kong) by 16.1% in the 4th quarter. Wetherby Asset Management Inc. now owns 13,887 shares of the Wireless communications provider’s stock worth $148,000 after acquiring an additional 1,927 shares in the last quarter. 0.98% of the stock is currently owned by institutional investors and hedge funds.

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 services, information communications technology services, and business and data communications services.

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

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