Mobile TeleSystems OJSC (MBT) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Mobile TeleSystems OJSC (NYSE:MBT) from a strong-buy rating to a hold rating in a research report released on Thursday.

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. “

Other equities research analysts have also issued reports about the stock. Deutsche Bank AG initiated coverage on shares of Mobile TeleSystems OJSC in a report on Tuesday, September 12th. They issued a buy rating and a $12.50 price objective on the stock. BidaskClub upgraded shares of Mobile TeleSystems OJSC from a hold rating to a buy rating in a report on Tuesday, August 22nd. J P Morgan Chase & Co upgraded shares of Mobile TeleSystems OJSC from a neutral rating to an overweight rating and set a $10.50 price objective on the stock in a report on Wednesday, July 26th. Finally, ValuEngine upgraded shares of Mobile TeleSystems OJSC from a buy rating to a strong-buy rating in a report on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $11.23.

Mobile TeleSystems OJSC (NYSE:MBT) opened at 10.56 on Thursday. Mobile TeleSystems OJSC has a 52 week low of $7.09 and a 52 week high of $11.59. The company has a 50-day moving average of $10.56 and a 200-day moving average of $9.52. The company has a market cap of $10.33 billion, a P/E ratio of 6.15 and a beta of 0.94.

Mobile TeleSystems OJSC (NYSE:MBT) last announced its quarterly earnings data on Monday, August 28th. The Wireless communications provider reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.04. Mobile TeleSystems OJSC had a net margin of 12.42% and a return on equity of 40.25%. The business had revenue of $1.87 billion for the quarter. On average, equities research analysts predict that Mobile TeleSystems OJSC will post $0.97 EPS for the current year.

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A number of large investors have recently made changes to their positions in MBT. Envestnet Asset Management Inc. raised its stake in Mobile TeleSystems OJSC by 11.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 17,971 shares of the Wireless communications provider’s stock worth $198,000 after acquiring an additional 1,838 shares in the last quarter. Alliancebernstein L.P. raised its stake in Mobile TeleSystems OJSC by 112.4% during the 1st quarter. Alliancebernstein L.P. now owns 30,900 shares of the Wireless communications provider’s stock worth $341,000 after acquiring an additional 16,350 shares in the last quarter. Principal Financial Group Inc. raised its stake in Mobile TeleSystems OJSC by 99.2% during the 1st quarter. Principal Financial Group Inc. now owns 325,253 shares of the Wireless communications provider’s stock worth $3,588,000 after acquiring an additional 161,944 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Mobile TeleSystems OJSC during the 1st quarter worth $986,000. Finally, Teachers Advisors LLC raised its stake in Mobile TeleSystems OJSC by 3.4% during the 1st quarter. Teachers Advisors LLC now owns 246,349 shares of the Wireless communications provider’s stock worth $2,717,000 after acquiring an additional 8,200 shares in the last quarter. Hedge funds and other institutional investors own 32.13% of the company’s stock.

Mobile TeleSystems OJSC Company Profile

Mobil’nye Telesistemy PAO is a Russia-based 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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