China Telecom Corp. (CHA) Shares Gap Up to $51.11
China Telecom Corp. (NYSE:CHA)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $49.91, but opened at $51.11. China Telecom Corp. shares last traded at $52.72, with a volume of 11,740 shares traded.
A number of equities analysts have commented on the company. Zacks Investment Research cut China Telecom Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Bank of America Corp. assumed coverage on China Telecom Corp. in a research note on Monday. They issued a “top pick” rating on the stock. They noted that the move was a valuation call. Finally, Citigroup Inc. cut China Telecom Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 15th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. China Telecom Corp. presently has an average rating of “Buy” and a consensus price target of $65.00.
The stock’s 50-day moving average is $48.70 and its 200-day moving average is $48.66. The firm has a market cap of $42.81 billion and a PE ratio of 14.29.
The firm also recently disclosed an annual dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, June 6th were paid a $1.101 dividend. 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 position 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 fund 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 SEC filing.
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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