China Telecom Corp. (CHA) Shares Gap Down to $52.89
China Telecom Corp. (NYSE:CHA)’s share price gapped down prior to trading on Friday . The stock had previously closed at $52.40, but opened at $52.89. China Telecom Corp. shares last traded at $53.65, with a volume of 13,705 shares trading hands.
CHA has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of China Telecom Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Citigroup Inc. downgraded shares of China Telecom Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 15th. Finally, 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 for the company. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. China Telecom Corp. currently has an average rating of “Buy” and a consensus price target of $65.00.
The firm has a market capitalization of $43.60 billion and a price-to-earnings ratio of 14.56. The firm has a 50 day moving average of $48.96 and a 200 day moving average of $48.71.
The firm also recently announced 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 raised 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. 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 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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