China Telecom Corp. (CHA) Shares Gap Up to $50.39
Shares of China Telecom Corp. (NYSE:CHA) gapped up prior to trading on Friday . The stock had previously closed at $50.15, but opened at $50.39. China Telecom Corp. shares last traded at $51.01, with a volume of 14,895 shares changing hands.
CHA has been the subject of a number of research reports. Zacks Investment Research upgraded China Telecom Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Citigroup Inc. lowered China Telecom Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $65.00.
The company has a 50 day moving average price of $46.87 and a 200 day moving average price of $48.22. The stock has a market capitalization of $41.28 billion and a PE ratio of 13.79.
The company also recently disclosed an annual dividend, which was paid on Monday, July 25th. Shareholders of record on Monday, June 6th were issued a $1.101 dividend. The ex-dividend date was Thursday, June 2nd.
A hedge fund recently raised its stake in China Telecom Corp. stock. First Trust Advisors LP boosted its position in shares of China Telecom Corp. (NYSE:CHA) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the SEC.
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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