China Telecom Corp. (CHA) Shares Gap Up to $46.13
China Telecom Corp. (NYSE:CHA) shares gapped up prior to trading on Thursday . The stock had previously closed at $43.89, but opened at $46.13. China Telecom Corp. shares last traded at $48.86, with a volume of 46,182 shares changing hands.
CHA has been the topic of several research reports. Zacks Investment Research raised China Telecom Corp. from a “sell” rating to a “strong-buy” rating and set a $59.00 price target on the stock in a report on Friday, March 25th. Citigroup Inc. downgraded shares of China Telecom Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. China Telecom Corp. presently has an average rating of “Hold” and an average price target of $65.00.
The stock’s 50 day moving average is $45.59 and its 200 day moving average is $47.82. The stock has a market cap of $40.20 billion and a P/E ratio of 13.42.
The company also recently disclosed 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. First Trust Advisors LP increased its stake in shares of China Telecom Corp. (NYSE:CHA) by 14.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 33,199 shares of the company’s stock after buying an additional 4,195 shares during the period. First Trust Advisors LP’s holdings in China Telecom Corp. were worth $1,542,000 at the end of the most recent reporting period.
China Telecom Corporation Limited is an integrated information service provider in the People’s Republic of China (PRC). The Company offers a range of telecommunications services, including wireline voice services, mobile voice services, Internet access services, value-added services, integrated information application services, telecommunications network resource services and lease of network equipment and other related services.
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