China Telecom Corp. (CHA) Shares Gap Up to $44.82
China Telecom Corp. (NYSE:CHA) shares gapped up before the market opened on Thursday . The stock had previously closed at $43.86, but opened at $44.82. China Telecom Corp. shares last traded at $45.92, with a volume of 20,472 shares trading hands.
A number of research analysts have weighed in on the stock. Citigroup Inc. cut shares of China Telecom Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 15th. Zacks Investment Research cut shares of China Telecom Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $65.00.
The stock’s 50 day moving average price is $45.63 and its 200 day moving average price is $47.80. The company has a market capitalization of $37.20 billion and a PE ratio of 12.42.
The firm also recently announced an annual dividend, which will be paid on Monday, July 25th. Stockholders of record on Monday, June 6th will be given a dividend of $1.101 per share. The ex-dividend date is Thursday, June 2nd.
A hedge fund recently raised its stake in China Telecom Corp. stock. Dimensional Fund Advisors LP raised its position in shares of China Telecom Corp. (NYSE:CHA) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,136 shares of the company’s stock after buying an additional 686 shares during the period. Dimensional Fund Advisors LP’s holdings in China Telecom Corp. were worth $11,201,000 at the end of the most recent quarter.
China Telecom Corporation Limited is a full services integrated information service operator and wireline telecommunication, CDMA mobile network and broadband Internet services provider in the People’s Republic of China (PRC). The Company’s principal business is the provision of basic communications services, including wireline telecommunications services, mobile telecommunications services, value added services, such as Internet access services, integrated information services and other related services.
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