Zacks Investment Research cut shares of China Telecom Corp. (NYSE:CHA) from a hold rating to a sell rating in a report issued on Wednesday morning.

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. “

Several other research firms also recently weighed in on CHA. Sanford C. Bernstein raised shares of China Telecom Corp. from a market perform rating to an outperform rating in a research note on Wednesday, November 9th. Bank of America Corp. assumed coverage on shares of China Telecom Corp. in a research note on Monday, August 15th. They issued a top pick rating for the company. They noted that the move was a valuation call. Finally, Morgan Stanley raised shares of China Telecom Corp. from an equal weight rating to an overweight rating in a research note on Friday, November 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $59.00.

China Telecom Corp. (NYSE:CHA) opened at 47.05 on Wednesday. China Telecom Corp. has a 1-year low of $42.23 and a 1-year high of $55.85. The firm has a market cap of $38.08 billion, a P/E ratio of 13.07 and a beta of 0.79. The firm’s 50-day moving average price is $50.83 and its 200-day moving average price is $49.20.

Institutional investors have recently modified their holdings of the stock. Advisors Preferred LLC bought a new position in China Telecom Corp. during the third quarter worth about $125,000. BNP Paribas Arbitrage SA bought a new position in China Telecom Corp. during the third quarter worth about $136,000. Harvard Management Co. Inc. bought a new position in China Telecom Corp. during the third quarter worth about $205,000. Barclays PLC bought a new position in China Telecom Corp. during the second quarter worth about $212,000. Finally, Americafirst Capital Management LLC bought a new position in China Telecom Corp. during the second quarter worth about $219,000. 0.54% of the stock is owned by hedge funds and other institutional investors.

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About China Telecom Corp.

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.

5 Day Chart for NYSE:CHA

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