China Telecom Corp. (CHA) Downgraded by Zacks Investment Research
China Telecom Corp. (NYSE:CHA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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 recently commented on the company. Bank of America Corp. initiated coverage on China Telecom Corp. in a report on Monday, August 15th. They issued a “top pick” rating for the company. They noted that the move was a valuation call. Citigroup Inc. cut China Telecom Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 15th.
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China Telecom Corp. (NYSE:CHA) traded down 0.37% during trading on Wednesday, reaching $51.60. The company’s stock had a trading volume of 14,383 shares. The firm’s 50-day moving average price is $51.33 and its 200 day moving average price is $49.44. China Telecom Corp. has a 12-month low of $42.23 and a 12-month high of $55.85. The company has a market capitalization of $41.76 billion, a P/E ratio of 13.58 and a beta of 0.67.
A number of institutional investors have recently bought and sold shares of CHA. Aperio Group LLC boosted its position in 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. 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 period. 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 period. Envestnet Asset Management Inc. raised its stake in shares of China Telecom Corp. by 6.3% in the first quarter. Envestnet Asset Management Inc. now owns 22,329 shares of the company’s stock worth $1,172,000 after buying an additional 1,315 shares during the period. Finally, Private Bank & Trust Co. raised its stake in shares of China Telecom Corp. by 27.6% in the second quarter. Private Bank & Trust Co. now owns 5,807 shares of the company’s stock worth $261,000 after buying an additional 1,257 shares during the period. 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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