China Telecom Corp. (CHA) Lowered to “Hold” at Zacks Investment Research
According to Zacks, “China Telecom Corporation is a state-owned telecommunications company in China. They operate local telephone networks in ten provinces in China. They operate domestic and international fixed-line networks and infrastructure including wireless local loop, as well as telecom network-based voice, data, video, multimedia and information services. They are also engaged in international telecom service settlement and expand into overseas markets. “
CHA has been the topic of several other reports. Bank of America Corp. began coverage on shares of China Telecom Corp. in a report on Monday, August 15th. They issued a top pick rating on the stock. They noted that the move was a valuation call. Citigroup Inc. lowered shares of China Telecom Corp. from a buy rating to a neutral rating in a report on Wednesday, June 15th.
China Telecom Corp. (NYSE:CHA) traded down 1.6450% during trading on Wednesday, reaching $50.7512. 3,613 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $51.32 and its 200 day moving average price is $49.46. The firm has a market cap of $41.07 billion, a P/E ratio of 13.3556 and a beta of 0.67. China Telecom Corp. has a 52-week low of $42.23 and a 52-week high of $55.85.
A number of institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA purchased a new position in China Telecom Corp. during the third quarter worth about $136,000. Barclays PLC purchased a new position in China Telecom Corp. during the second quarter worth about $212,000. State Street Corp increased its position in China Telecom Corp. by 5.8% in the second quarter. State Street Corp now owns 12,328 shares of the company’s stock worth $555,000 after buying an additional 677 shares in the last quarter. Stevens Capital Management LP increased its position in China Telecom Corp. by 20.7% in the second quarter. Stevens Capital Management LP now owns 5,587 shares of the company’s stock worth $251,000 after buying an additional 959 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in China Telecom Corp. by 1.6% in the second quarter. Bessemer Group Inc. now owns 1,746,923 shares of the company’s stock worth $78,594,000 after buying an additional 27,807 shares in the last quarter. 0.54% of the stock is currently owned by hedge funds and other institutional investors.
China Telecom Corp. Company Profile
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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