China Telecom Corp Ltd (CHA) Receives Consensus Rating of “Buy” from Brokerages
Shares of China Telecom Corp Ltd (NYSE:CHA) have been given an average rating of “Buy” by the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company.
Several brokerages recently commented on CHA. BidaskClub raised China Telecom Corp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. Bank of America Corporation began coverage on China Telecom Corp in a research note on Wednesday, August 30th. They issued a “buy” rating for the company. Finally, Zacks Investment Research raised China Telecom Corp from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Monday, August 28th.
A number of institutional investors have recently made changes to their positions in CHA. Northwestern Mutual Wealth Management Co. boosted its position in China Telecom Corp by 93.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,211 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 1,068 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in China Telecom Corp by 22.8% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,390 shares of the utilities provider’s stock worth $163,000 after purchasing an additional 630 shares during the period. Diversified Trust Co bought a new stake in China Telecom Corp during the second quarter worth approximately $208,000. Greenleaf Trust bought a new stake in China Telecom Corp during the second quarter worth approximately $240,000. Finally, FDx Advisors Inc. bought a new stake in China Telecom Corp during the third quarter worth approximately $243,000. 0.41% of the stock is owned by hedge funds and other institutional investors.
Shares of China Telecom Corp (CHA) opened at $50.12 on Friday. China Telecom Corp has a 12 month low of $45.58 and a 12 month high of $53.78. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.03.
About China Telecom Corp
China Telecom Corporation Limited is an investment holding company principally engaged in telecommunications and related businesses. The Company provides integrated information services, including wireline and mobile telecommunications services, Internet access services, information services and other value-added telecommunications services.
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