China Telecom Corp. (CHA) Shares Gap Down to $52.89
China Telecom Corp. (NYSE:CHA) shares gapped down prior to trading on Friday . The stock had previously closed at $52.40, but opened at $52.89. China Telecom Corp. shares last traded at $53.65, with a volume of 13,705 shares.
Several research firms have weighed in on CHA. Citigroup Inc. downgraded China Telecom Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 15th. Zacks Investment Research upgraded China Telecom Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, Bank of America Corp. began coverage on China Telecom Corp. in a research note on Monday. They issued a “top pick” rating for the company. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. China Telecom Corp. currently has an average rating of “Buy” and a consensus price target of $65.00.
The stock has a market capitalization of $43.60 billion and a PE ratio of 14.56. The company’s 50-day moving average price is $48.96 and its 200-day moving average price is $48.71.
The company also recently disclosed an annual dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, June 6th were paid a $1.101 dividend. The ex-dividend date of this dividend was Thursday, June 2nd.
An institutional investor recently raised its position 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 Form 13F filing with the 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 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.