BidaskClub Upgrades China Telecom Corp Ltd (NYSE:CHA) to “Sell”

BidaskClub upgraded shares of China Telecom Corp Ltd (NYSE:CHA) from a strong sell rating to a sell rating in a research report report published on Tuesday, August 8th.

Separately, Zacks Investment Research downgraded China Telecom Corp from a strong-buy rating to a hold rating in a research note on Tuesday, May 23rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. China Telecom Corp presently has an average rating of Buy and an average target price of $54.00.

Shares of China Telecom Corp (CHA) traded up 0.64% during mid-day trading on Tuesday, reaching $47.30. 24,384 shares of the company’s stock were exchanged. The company has a market cap of $38.28 billion, a PE ratio of 14.33 and a beta of 0.65. China Telecom Corp has a 52-week low of $45.58 and a 52-week high of $53.84. The company’s 50-day moving average price is $47.72 and its 200 day moving average price is $48.34.

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Several institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its position in China Telecom Corp by 93.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,211 shares of the utilities provider’s stock valued at $106,000 after buying an additional 1,068 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of China Telecom Corp by 22.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,390 shares of the utilities provider’s stock valued at $163,000 after buying an additional 630 shares during the period. Diversified Trust Co acquired a new position in shares of China Telecom Corp during the second quarter valued at approximately $208,000. Greenleaf Trust acquired a new position in shares of China Telecom Corp during the second quarter valued at approximately $240,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of China Telecom Corp during the first quarter valued at approximately $244,000. 0.41% of the stock is currently owned by hedge funds and other 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.

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