China Telecom Corp. (CHA) Shares Gap Up to $46.72
Shares of China Telecom Corp. (NYSE:CHA) gapped up prior to trading on Thursday . The stock had previously closed at $46.21, but opened at $46.72. China Telecom Corp. shares last traded at $47.61, with a volume of 14,508 shares trading hands.
CHA has been the subject of a number of research analyst reports. Zacks Investment Research lowered China Telecom Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Citigroup Inc. lowered China Telecom Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $65.00.
The company has a market capitalization of $38.45 billion and a PE ratio of 12.84. The company has a 50 day moving average price of $45.57 and a 200 day moving average price of $47.78.
The company also recently announced an annual dividend, which will be paid on Monday, July 25th. Stockholders of record on Monday, June 6th will be issued 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 boosted its position in China Telecom Corp. (NYSE:CHA) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.
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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