China Telecom Corp. (CHA) Shares Gap Up to $44.82
China Telecom Corp. (NYSE:CHA) shares gapped up prior to trading on Thursday . The stock had previously closed at $43.86, but opened at $44.82. China Telecom Corp. shares last traded at $45.92, with a volume of 20,472 shares trading hands.
A number of research analysts have recently weighed in on CHA shares. Zacks Investment Research raised China Telecom Corp. from a “sell” rating to a “strong-buy” rating and set a $59.00 price target on the stock in a research note on Friday, March 25th. Citigroup Inc. downgraded 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 and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $65.00.
The firm has a market cap of $36.99 billion and a price-to-earnings ratio of 12.35. The company has a 50 day moving average of $45.66 and a 200 day moving average of $47.81.
The business also recently announced an annual dividend, which will be paid on Monday, July 25th. Stockholders of record on Monday, June 6th will be issued a $1.101 dividend. The ex-dividend date of this dividend is Thursday, June 2nd.
An institutional investor recently raised its position in China Telecom Corp. stock. Dimensional Fund Advisors LP raised its position in shares of China Telecom Corp. (NYSE:CHA) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 241,136 shares of the company’s stock after buying an additional 686 shares during the period. Dimensional Fund Advisors LP’s holdings in China Telecom Corp. were worth $11,201,000 as of its most recent SEC filing.
China Telecom Corporation Limited is a full services integrated information service operator and wireline telecommunication, CDMA mobile network and broadband Internet services provider in the People’s Republic of China (PRC). The Company’s principal business is the provision of basic communications services, including wireline telecommunications services, mobile telecommunications services, value added services, such as Internet access services, integrated information services and other related services.