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. “
Several other brokerages have also recently weighed in on CHA. Bank of America Corp. assumed coverage on China Telecom Corp. in a research 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 research report on Wednesday, June 15th.
China Telecom Corp. (NYSE:CHA) opened at 52.46 on Wednesday. The company has a market capitalization of $42.46 billion, a P/E ratio of 13.81 and a beta of 0.67. The firm has a 50-day moving average price of $51.28 and a 200 day moving average price of $49.48. China Telecom Corp. has a 52-week low of $42.23 and a 52-week high of $55.85.
A number of institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA acquired a new position in China Telecom Corp. during the third quarter valued at approximately $136,000. Barclays PLC acquired a new position in China Telecom Corp. during the second quarter valued at approximately $212,000. Americafirst Capital Management LLC acquired a new position in China Telecom Corp. during the second quarter valued at approximately $219,000. Stevens Capital Management LP boosted its position 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 last quarter. Finally, Private Bank & Trust Co. boosted its position 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 last quarter. Institutional investors and hedge funds 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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