Shares of China Telecom Corp Ltd (NYSE:CHA) have received a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $55.00.

A number of research analysts have issued reports on the company. Bank of America Corporation assumed coverage on China Telecom Corp in a report on Wednesday, August 30th. They set a “buy” rating for the company. Zacks Investment Research raised China Telecom Corp from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Monday, August 28th. Finally, BidaskClub raised China Telecom Corp from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th.

Shares of China Telecom Corp (NYSE CHA) opened at 53.67 on Wednesday. China Telecom Corp has a 1-year low of $45.58 and a 1-year high of $53.78. The company has a market cap of $43.44 billion, a price-to-earnings ratio of 14.91 and a beta of 0.60. The firm’s 50-day moving average is $50.73 and its 200 day moving average is $49.11.

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Several hedge funds and other institutional investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of China Telecom Corp by 22.8% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,390 shares of the utilities provider’s stock valued at $163,000 after acquiring an additional 630 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of China Telecom Corp by 11.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 258,261 shares of the utilities provider’s stock valued at $12,378,000 after buying an additional 26,872 shares in the last quarter. State Street Corp increased its stake in shares of China Telecom Corp by 2.2% in the second quarter. State Street Corp now owns 17,134 shares of the utilities provider’s stock valued at $822,000 after buying an additional 365 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of China Telecom Corp in the second quarter valued at $413,000. Finally, Tudor Investment Corp ET AL increased its stake in shares of China Telecom Corp by 475.0% in the second quarter. Tudor Investment Corp ET AL now owns 115,000 shares of the utilities provider’s stock valued at $5,512,000 after buying an additional 95,000 shares in the last quarter. 0.41% of the stock is owned by institutional investors.

China Telecom Corp Company Profile

China Telecom Corporation Limited is an investment holding company principally engaged in telecommunications and related businesses. The Company provides integrated information services, including wireline and mobile telecommunications services, Internet access services, information services and other value-added telecommunications services.

Analyst Recommendations for China Telecom Corp (NYSE:CHA)

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