China Telecom Co. Limited (CHA) Given Average Rating of “Hold” by Brokerages
China Telecom Co. Limited (NYSE:CHA) has earned a consensus rating of “Hold” from the seven analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company.
Several equities analysts recently issued reports on the company. Credit Suisse Group cut China Telecom from an “outperform” rating to a “neutral” rating in a report on Friday, October 26th. Zacks Investment Research cut China Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 22nd. CLSA cut China Telecom from an “outperform” rating to an “underperform” rating in a report on Monday, October 29th. UBS Group cut China Telecom from a “buy” rating to a “neutral” rating in a report on Thursday, October 18th. Finally, Mizuho cut China Telecom from a “neutral” rating to a “sell” rating in a report on Monday.
A number of institutional investors have recently added to or reduced their stakes in CHA. Macquarie Group Ltd. bought a new position in China Telecom in the 3rd quarter worth approximately $163,000. Parallel Advisors LLC grew its position in China Telecom by 52.8% during the third quarter. Parallel Advisors LLC now owns 3,485 shares of the utilities provider’s stock worth $172,000 after buying an additional 1,204 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of China Telecom in the third quarter valued at approximately $232,000. Regal Investment Advisors LLC bought a new position in China Telecom in the 3rd quarter worth approximately $261,000. Finally, Greenleaf Trust bought a new position in China Telecom in the 2nd quarter worth approximately $280,000. Hedge funds and other institutional investors own 0.58% of the company’s stock.
About China Telecom
China Telecom Corporation Limited, together with its subsidiaries, provides wireline and mobile telecommunications services primarily in the People's Republic of China. It offers wireline voice services, including local wireline telephone services and long distance wireline services; CDMA mobile voice services, such as local calls, domestic and international long distance calls, intra-provincial roaming, and inter-provincial roaming and international roaming; wireline Internet access services comprising dial-up and broadband services; wireless Internet access services; and wireline, Internet, and mobile value-added services.
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