China Telecom Corp. (CHA) Shares Gap Down to $48.86
China Telecom Corp. (NYSE:CHA)’s share price gapped down before the market opened 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.
A number of research firms recently weighed in on CHA. Citigroup Inc. cut shares of China Telecom Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 15th. Zacks Investment Research lowered shares of China Telecom Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. China Telecom Corp. has a consensus rating of “Hold” and an average price target of $65.00.
The firm has a market cap of $40.20 billion and a P/E ratio of 13.42. The stock has a 50 day moving average price of $45.59 and a 200-day moving average price of $47.82.
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 $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. 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 as of its most recent SEC filing.
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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