China Telecom Corp. (CHA) Upgraded 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. “
A number of other equities analysts have also weighed in on the company. Morgan Stanley raised China Telecom Corp. from an equal weight rating to an overweight rating in a research report on Friday, November 11th. Sanford C. Bernstein upgraded China Telecom Corp. from a market perform rating to an outperform rating in a report on Wednesday, November 9th. Finally, Bank of America Corp. started coverage on China Telecom Corp. in a report on Monday, August 15th. They set a top pick rating for the company. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $59.00.
Shares of China Telecom Corp. (NYSE:CHA) traded up 0.02% during midday trading on Thursday, reaching $47.11. The company’s stock had a trading volume of 83,560 shares. The stock has a market cap of $38.13 billion, a PE ratio of 12.73 and a beta of 0.79. The firm has a 50-day moving average of $51.25 and a 200-day moving average of $49.22. China Telecom Corp. has a one year low of $42.23 and a one year high of $55.85.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position in shares of China Telecom Corp. by 11.7% in the third quarter. Wells Fargo & Company MN now owns 8,684 shares of the company’s stock worth $444,000 after buying an additional 913 shares during the period. World Asset Management Inc increased its position in shares of China Telecom Corp. by 8.1% in the third quarter. World Asset Management Inc now owns 9,279 shares of the company’s stock worth $474,000 after buying an additional 692 shares during the period. BNP Paribas Arbitrage SA acquired a new position in shares of China Telecom Corp. during the third quarter worth about $136,000. Barclays PLC acquired a new position in shares of China Telecom Corp. during the second quarter worth about $212,000. Finally, State Street Corp increased its position in shares of 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 during the period. Hedge funds and other institutional investors own 0.54% of the company’s stock.
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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