China Telecom Corp. (CHA) Shares Gap Up to $50.39
China Telecom Corp. (NYSE:CHA)’s share price gapped up before the market opened 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.
Several equities analysts have recently commented on CHA shares. Zacks Investment Research cut China Telecom Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Citigroup Inc. cut China Telecom Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $65.00.
The stock has a 50-day moving average of $46.87 and a 200 day moving average of $48.22. The stock has a market cap of $41.28 billion and a PE ratio of 13.79.
The company also recently declared an annual dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, June 6th were issued a dividend of $1.101 per share. The ex-dividend date of this dividend was Thursday, June 2nd.
An institutional investor recently raised its position in China Telecom Corp. stock. First Trust Advisors LP boosted its stake in shares of China Telecom Corp. (NYSE:CHA) by 14.5% during the fourth quarter, according to its most recent Form 13F 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 at the end of the most recent quarter.
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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