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 subject of a number of other research reports. Citigroup Inc. lowered China Telecom Corp. from a buy rating to a neutral rating in a research note on Wednesday, June 15th. Bank of America Corp. initiated coverage on 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.
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. China Telecom Corp. has a 12 month low of $42.23 and a 12 month high of $55.85. The firm has a 50 day moving average of $51.32 and a 200-day moving average of $49.46. The stock has a market cap of $41.07 billion, a PE ratio of 13.3556 and a beta of 0.67.
A number of hedge funds have recently made changes to their positions in CHA. JPMorgan Chase & Co. raised its stake in shares of China Telecom Corp. by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 15,152 shares of the company’s stock worth $796,000 after buying an additional 98 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of China Telecom Corp. during the second quarter worth approximately $219,000. BlackRock Inc. raised its stake in shares of China Telecom Corp. by 3.7% in the first quarter. BlackRock Inc. now owns 11,292 shares of the company’s stock worth $593,000 after buying an additional 404 shares during the last quarter. Aperio Group LLC raised its stake in shares of China Telecom Corp. by 17.8% in the first quarter. Aperio Group LLC now owns 27,655 shares of the company’s stock worth $1,452,000 after buying an additional 4,173 shares during the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new stake in shares of China Telecom Corp. during the third quarter worth approximately $136,000. 0.54% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for China Telecom Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Telecom Corp. and related companies with MarketBeat.com's FREE daily email newsletter.