China Telecom Corp. (CHA) Shares Gap Up to $46.72
China Telecom Corp. (NYSE:CHA) gapped up before the market opened on Thursday . The stock had previously closed at $46.21, but opened at $46.72. China Telecom Corp. shares last traded at $47.61, with a volume of 14,508 shares.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded China Telecom Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Citigroup Inc. downgraded China Telecom Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $65.00.
The company has a market cap of $38.13 billion and a price-to-earnings ratio of 12.73. The firm’s 50-day moving average price is $45.56 and its 200 day moving average price is $47.78.
The company also recently disclosed an annual dividend, which will be paid on Monday, July 25th. Stockholders of record on Monday, June 6th will be given a dividend of $1.101 per share. The ex-dividend date is 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 disclosure with the SEC. The institutional investor 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 reporting period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.