China Telecom Co. Limited (NYSE:CHA) – Analysts at Jefferies Group dropped their FY2017 earnings per share estimates for shares of China Telecom in a research note issued to investors on Monday. Jefferies Group analyst E. Lee now forecasts that the utilities provider will post earnings per share of $3.48 for the year, down from their prior estimate of $3.66. Jefferies Group also issued estimates for China Telecom’s FY2018 earnings at $3.32 EPS, FY2019 earnings at $3.95 EPS, FY2020 earnings at $2.84 EPS, FY2021 earnings at $3.32 EPS and FY2022 earnings at $4.74 EPS.
A number of other research analysts have also commented on the company. Nomura lowered China Telecom from a “buy” rating to a “neutral” rating in a report on Monday. Zacks Investment Research raised China Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 6th.
Hedge funds and other institutional investors have recently modified their holdings of the company. FDx Advisors Inc. bought a new stake in China Telecom during the 3rd quarter valued at approximately $243,000. OLD Mission Capital LLC bought a new stake in China Telecom during the 4th quarter valued at approximately $396,000. Wells Fargo & Company MN boosted its stake in China Telecom by 17.5% during the 2nd quarter. Wells Fargo & Company MN now owns 9,445 shares of the utilities provider’s stock valued at $453,000 after purchasing an additional 1,405 shares during the period. Crossmark Global Holdings Inc. bought a new stake in China Telecom during the 3rd quarter valued at approximately $486,000. Finally, Greenleaf Trust boosted its stake in China Telecom by 46.9% during the 4th quarter. Greenleaf Trust now owns 10,620 shares of the utilities provider’s stock valued at $504,000 after purchasing an additional 3,391 shares during the period. 0.45% of the stock is currently owned by institutional investors and hedge funds.
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About China Telecom
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.
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