China Telecom Corp. (CHA) Shares Gap Up to $46.13
China Telecom Corp. (NYSE:CHA) gapped up before the market opened on Thursday . The stock had previously closed at $43.89, but opened at $46.13. China Telecom Corp. shares last traded at $48.86, with a volume of 46,182 shares traded.
A number of brokerages recently issued reports on CHA. Zacks Investment Research cut shares of China Telecom Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Citigroup Inc. cut shares of China Telecom Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $65.00.
The company has a market capitalization of $39.54 billion and a PE ratio of 13.21. The firm’s 50 day moving average is $45.51 and its 200-day moving average is $47.78.
The firm also recently announced an annual dividend, which will be paid on Monday, July 25th. Stockholders of record on Monday, June 6th will be given 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 Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.
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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