Trading Report: The China Telecom Corp. (CHA) Lowered to “Hold” at Zacks Investment Research

The China Telecom Corp. (CHA) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of China Telecom Corp. (NYSE:CHA) from a buy rating to a hold rating in a research report sent to investors 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 research analysts have also weighed in on CHA. Citigroup Inc. lowered China Telecom Corp. from a buy rating to a neutral rating in a report on Wednesday, June 15th. Bank of America Corp. started coverage on China Telecom Corp. in a report on Monday, August 15th. They set a top pick rating on the stock. They noted that the move was a valuation call.

Shares of China Telecom Corp. (NYSE:CHA) opened at 51.86 on Wednesday. The stock has a 50 day moving average price of $51.27 and a 200-day moving average price of $49.43. China Telecom Corp. has a 52 week low of $42.23 and a 52 week high of $55.85. The firm has a market capitalization of $41.97 billion, a price-to-earnings ratio of 13.65 and a beta of 0.67.

A number of hedge funds have recently added to or reduced their stakes in CHA. BNP Paribas Arbitrage SA purchased a new stake in China Telecom Corp. during the third quarter valued at about $136,000. Barclays PLC purchased a new stake in China Telecom Corp. during the second quarter valued at about $212,000. Americafirst Capital Management LLC purchased a new stake in China Telecom Corp. during the second quarter valued at about $219,000. Stevens Capital Management LP increased its stake in China Telecom Corp. by 20.7% in the second quarter. Stevens Capital Management LP now owns 5,587 shares of the company’s stock valued at $251,000 after buying an additional 959 shares during the period. Finally, Private Bank & Trust Co. increased its stake in China Telecom Corp. by 27.6% in the second quarter. Private Bank & Trust Co. now owns 5,807 shares of the company’s stock valued at $261,000 after buying an additional 1,257 shares during the period. Institutional investors and hedge funds own 0.54% of the company’s stock.

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.

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