China Telecom Corp. (CHA) Shares Gap Down to $48.86
China Telecom Corp. (NYSE:CHA) gapped down prior to trading on Friday . The stock had previously closed at $48.50, but opened at $48.86. China Telecom Corp. shares last traded at $49.49, with a volume of 12,025 shares traded.
CHA has been the subject of a number of research reports. Zacks Investment Research downgraded China Telecom Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Citigroup Inc. downgraded China Telecom Corp. from a “buy” rating to a “neutral” rating in a report 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’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $65.00.
The stock has a market capitalization of $40.20 billion and a price-to-earnings ratio of 13.42. The stock has a 50-day moving average price of $45.51 and a 200-day moving average price of $47.78.
The business also recently announced an annual dividend, which will be paid on Monday, July 25th. Shareholders of record on Monday, June 6th will be issued a dividend of $1.101 per share. 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 13F 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 filing with the SEC.
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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