China Telecom Corp. (CHA) Shares Gap Down to $45.97
Shares of China Telecom Corp. (NYSE:CHA) gapped down before the market opened on Monday . The stock had previously closed at $45.68, but opened at $45.97. China Telecom Corp. shares last traded at $46.56, with a volume of 13,156 shares traded.
Several research firms recently issued reports on CHA. Citigroup Inc. cut China Telecom Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 15th. Zacks Investment Research cut China Telecom Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $65.00.
The stock has a market capitalization of $37.79 billion and a price-to-earnings ratio of 12.62. The firm’s 50-day moving average is $45.60 and its 200-day moving average is $47.80.
The firm also recently disclosed an annual dividend, which will be paid on Monday, July 25th. Investors of record on Monday, June 6th will be given a $1.101 dividend. The ex-dividend date is Thursday, June 2nd.
A hedge fund recently raised its stake in China Telecom Corp. stock. First Trust Advisors LP raised its stake in China Telecom Corp. (NYSE:CHA) by 14.5% during the fourth quarter, according to its most recent disclosure 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 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.