China Unicom (NYSE: CHU) Downgraded by Macquarie to Underperform
Tuesday, May 03, 2022 7:00 PM

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Macquarie downgraded China Unicom (NYSE: CHU) to Underperform from Neutral following disappointing first quarter results.

The company posted a net profit of 166 million yuan ($25.5 million) in Q1, lower than a revised 1.21 billion yuan net profit a year earlier. Revenue for the quarter was up 20 percent at 49.03 billion yuan, although total costs rose 25 percent to 48.8 billion yuan, the company said.

Shares last traded at $20.44. CHU has a 52-week low of $10.91 and a 52-week high of $20.63. The company has a total market cap of $48.21 billion. The price to earnings ratio of the company is 120.35, and the PEG ratio is -0.010.

China Unicom (Hong Kong) Limited, through its subsidiaries, engages in the provision of GSM and WCDMA cellular and related telecommunications services in the People's Republic of China. China Unicom (Hong Kong) Limited was founded in 2000 and is based in Central, Hong Kong. China Unicom (Hong Kong) Limited is a subsidiary of China United Network Communications Group Company Limited.

 

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