Analysts Set China Telecom Co. Limited (CHA) Target Price at $53.90

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China Telecom Co. Limited (NYSE:CHA) has earned an average recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $53.90.

Several brokerages have weighed in on CHA. Zacks Investment Research lowered China Telecom from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Goldman Sachs Group raised China Telecom from a “neutral” rating to a “buy” rating and set a $53.90 price objective for the company in a report on Sunday, April 14th. Finally, New Street Research lowered China Telecom from a “neutral” rating to a “reduce” rating in a report on Monday, February 11th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP bought a new position in shares of China Telecom in the first quarter worth $36,000. BNP Paribas Arbitrage SA boosted its holdings in shares of China Telecom by 159.2% in the first quarter. BNP Paribas Arbitrage SA now owns 705 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 433 shares during the period. Financial Gravity Companies Inc. bought a new position in shares of China Telecom in the fourth quarter worth $78,000. Financial Gravity Wealth Inc. bought a new position in shares of China Telecom in the first quarter worth $87,000. Finally, Sustainable Insight Capital Management LLC bought a new position in shares of China Telecom in the fourth quarter worth $104,000. 0.52% of the stock is owned by institutional investors and hedge funds.

NYSE CHA traded up $0.81 on Friday, hitting $50.81. 34,900 shares of the stock traded hands, compared to its average volume of 42,108. China Telecom has a 12 month low of $44.20 and a 12 month high of $57.09. The firm has a market cap of $40.20 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.44 and a beta of 0.76. The company has a current ratio of 0.28, a quick ratio of 0.26 and a debt-to-equity ratio of 0.13.

The company also recently disclosed an annual dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, June 3rd will be issued a dividend of $1.5942 per share. This represents a yield of 2.93%. This is a positive change from China Telecom’s previous annual dividend of $1.47. The ex-dividend date of this dividend is Friday, May 31st. China Telecom’s dividend payout ratio is 37.53%.

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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Analyst Recommendations for China Telecom (NYSE:CHA)

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