Zacks Investment Research downgraded shares of China Telecom (NYSE:CHA) from a hold rating to a sell rating in a report released on Tuesday.

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 brokerages also recently weighed in on CHA. UBS Group downgraded China Telecom from a buy rating to a neutral rating in a research note on Thursday, October 18th. CLSA downgraded China Telecom from an outperform rating to an underperform rating in a research report on Monday, October 29th. Finally, Credit Suisse Group downgraded China Telecom from an outperform rating to a neutral rating in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $50.00.

Shares of CHA stock traded down $1.02 during trading on Tuesday, reaching $48.08. The company had a trading volume of 42,936 shares, compared to its average volume of 96,168. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.27 and a current ratio of 0.29. China Telecom has a one year low of $41.28 and a one year high of $51.49. The company has a market capitalization of $39.57 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.95 and a beta of 0.79.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aperio Group LLC increased its position in China Telecom by 8.0% in the 3rd quarter. Aperio Group LLC now owns 469,892 shares of the utilities provider’s stock worth $23,222,000 after buying an additional 34,935 shares during the period. Acadian Asset Management LLC increased its position in China Telecom by 199.3% in the 3rd quarter. Acadian Asset Management LLC now owns 73,643 shares of the utilities provider’s stock worth $3,640,000 after buying an additional 49,038 shares during the period. First Trust Advisors LP grew its holdings in shares of China Telecom by 10.5% during the 3rd quarter. First Trust Advisors LP now owns 65,997 shares of the utilities provider’s stock worth $3,262,000 after purchasing an additional 6,279 shares in the last quarter. UBS Group AG grew its holdings in shares of China Telecom by 142.1% during the 1st quarter. UBS Group AG now owns 61,246 shares of the utilities provider’s stock worth $2,724,000 after purchasing an additional 35,946 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of China Telecom by 20.8% during the 2nd quarter. Bank of Montreal Can now owns 46,812 shares of the utilities provider’s stock worth $2,173,000 after purchasing an additional 8,061 shares in the last quarter. 0.56% of the stock is currently owned by institutional investors.

China Telecom Company Profile

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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