China Telecom (CHA) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of China Telecom (NYSE:CHA) from a hold rating to a buy rating in a report published on Wednesday. They currently have $62.00 price objective on the utilities provider’s stock.

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 analysts have also commented on CHA. Mizuho lowered China Telecom from a neutral rating to a sell rating in a research note on Monday, November 19th. New Street Research lowered China Telecom from a neutral rating to a reduce rating in a research note on Monday, February 11th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $62.00.

CHA stock traded up $1.38 during trading on Wednesday, hitting $55.76. The company had a trading volume of 32,248 shares, compared to its average volume of 29,019. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.29 and a quick ratio of 0.27. The firm has a market cap of $45.56 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 2.12 and a beta of 0.77. China Telecom has a fifty-two week low of $41.28 and a fifty-two week high of $56.63.

Institutional investors have recently bought and sold shares of the business. Financial Gravity Companies Inc. bought a new stake in shares of China Telecom during the fourth quarter worth $78,000. Quadrant Capital Group LLC raised its position in shares of China Telecom by 374.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,737 shares of the utilities provider’s stock worth $87,000 after acquiring an additional 1,371 shares during the last quarter. Sustainable Insight Capital Management LLC bought a new stake in shares of China Telecom during the fourth quarter worth $104,000. Rehmann Capital Advisory Group raised its position in shares of China Telecom by 104.8% during the third quarter. Rehmann Capital Advisory Group now owns 2,556 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 1,308 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new stake in shares of China Telecom during the third quarter worth $163,000. 0.59% of the stock is currently owned by institutional investors.

About China Telecom

China Telecom Corporation Limited, together with its subsidiaries, provides wireline and mobile telecommunications services primarily in the People's Republic of China. It offers wireline voice services, including local wireline telephone services and long distance wireline services; CDMA mobile voice services, such as local calls, domestic and international long distance calls, intra-provincial roaming, and inter-provincial roaming and international roaming; wireline Internet access services comprising dial-up and broadband services; wireless Internet access services; and wireline, Internet, and mobile value-added services.

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