Mobile TeleSystems OAO (MBT) Upgraded to “Buy” at Zacks Investment Research
Mobile TeleSystems OAO (NYSE:MBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $8.50 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 10.97% from the stock’s current price.
According to Zacks, “MOBILE TELE-ADR mission is to build a integrated mobile communications world, which will bring people together, enrich their lives and open up new horizons, both at work and at home. They will do this by Anticipating on and understanding of our customers’ needs, employing experienced, qualified and highly motivated personnel, introducing new technologies, and enhancing our company’s development. “
Separately, HSBC lowered shares of Mobile TeleSystems OAO from a “buy” rating to a “hold” rating in a report on Thursday, September 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $9.39.
Shares of Mobile TeleSystems OAO (NYSE:MBT) opened at 7.66 on Wednesday. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 5.24 and a beta of 1.20. The stock has a 50 day moving average price of $7.89 and a 200 day moving average price of $8.58. Mobile TeleSystems OAO has a 1-year low of $5.15 and a 1-year high of $9.47.
The company also recently announced a dividend, which will be paid on Monday, November 21st. Stockholders of record on Friday, October 14th will be issued a $0.3837 dividend. This is an increase from Mobile TeleSystems OAO’s previous dividend of $0.32. The ex-dividend date is Wednesday, October 12th. Mobile TeleSystems OAO’s payout ratio is presently 95.59%.
Several hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Mobile TeleSystems OAO during the first quarter valued at $165,000. Ngam Advisors L.P. increased its stake in shares of Mobile TeleSystems OAO by 10.4% in the first quarter. Ngam Advisors L.P. now owns 160,921 shares of the company’s stock valued at $1,302,000 after buying an additional 15,146 shares during the last quarter. Prudential Financial Inc. increased its stake in Mobile TeleSystems OAO by 5.2% in the first quarter. Prudential Financial Inc. now owns 361,100 shares of the company’s stock worth $2,921,000 after buying an additional 18,000 shares in the last quarter. BlackRock Fund Advisors increased its stake in Mobile TeleSystems OAO by 8.3% in the first quarter. BlackRock Fund Advisors now owns 7,271,898 shares of the company’s stock worth $58,830,000 after buying an additional 556,458 shares in the last quarter. Finally, BlackRock Japan Co. Ltd increased its stake in Mobile TeleSystems OAO by 95.5% in the first quarter. BlackRock Japan Co. Ltd now owns 18,566 shares of the company’s stock worth $150,000 after buying an additional 9,070 shares in the last quarter. 29.72% of the stock is currently owned by institutional investors and hedge funds.
Mobile TeleSystems OAO Company Profile
Mobile TeleSystems Public Joint Stock Company, formerly Mobile TeleSystems Open Joint Stock Company, is a provider of telecommunications services. The Company provides mobile and fixed line voice and data telecommunications services, including data transfer, broadband, pay-television (pay-TV) and various value-added services, as well as selling equipment and accessories.
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