China Telecom Corp. (CHA) Shares Gap Up to $51.11
Shares of China Telecom Corp. (NYSE:CHA) 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.
CHA has been the topic of several analyst reports. Bank of America Corp. initiated coverage on shares of China Telecom Corp. in a research note on Monday, August 15th. They issued a “top pick” rating on the stock. They noted that the move was a valuation call. Zacks Investment Research cut shares of China Telecom Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Finally, Citigroup Inc. cut 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, one has assigned a buy rating and one has assigned a strong buy rating to the stock. China Telecom Corp. currently has a consensus rating of “Buy” and an average target price of $65.00.
The company’s 50 day moving average price is $48.96 and its 200 day moving average price is $48.71. The stock has a market cap of $43.60 billion and a price-to-earnings ratio of 14.56.
The company also recently announced an annual dividend, which was paid on Monday, July 25th. Shareholders of record on Monday, June 6th were paid 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 stake in China Telecom Corp. (NYSE:CHA) by 14.5% during the fourth quarter, according to its most recent 13F filing with the 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 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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