Zacks Investment Research Lowers China Telecom (NYSE:CHA) to Sell

Share on StockTwits

China Telecom (NYSE:CHA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday, Zacks.com reports.

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 also recently issued reports on CHA. Citigroup raised shares of China Telecom from a “neutral” rating to a “buy” rating in a report on Wednesday, October 16th. UBS Group raised shares of China Telecom from a “neutral” rating to a “buy” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.95.

Shares of China Telecom stock traded up $0.35 on Monday, reaching $38.32. 81,400 shares of the stock were exchanged, compared to its average volume of 43,265. The business has a 50 day moving average price of $40.97 and a two-hundred day moving average price of $45.48. The firm has a market capitalization of $30.73 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 1.14 and a beta of 0.70. The company has a quick ratio of 0.29, a current ratio of 0.30 and a debt-to-equity ratio of 0.20. China Telecom has a twelve month low of $37.62 and a twelve month high of $57.09.

Large investors have recently bought and sold shares of the company. Aperio Group LLC grew its stake in China Telecom by 15.0% in the 2nd quarter. Aperio Group LLC now owns 681,879 shares of the utilities provider’s stock valued at $34,114,000 after acquiring an additional 88,931 shares during the period. Acadian Asset Management LLC boosted its stake in China Telecom by 23.6% during the 2nd quarter. Acadian Asset Management LLC now owns 69,906 shares of the utilities provider’s stock worth $3,495,000 after purchasing an additional 13,331 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of China Telecom by 3.4% in the second quarter. Parametric Portfolio Associates LLC now owns 68,613 shares of the utilities provider’s stock worth $3,433,000 after buying an additional 2,225 shares in the last quarter. Northern Trust Corp lifted its stake in shares of China Telecom by 1.1% in the second quarter. Northern Trust Corp now owns 48,561 shares of the utilities provider’s stock worth $2,429,000 after buying an additional 508 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in China Telecom during the second quarter worth about $2,345,000. Hedge funds and other institutional investors own 0.50% of the company’s stock.

China Telecom Company Profile

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.

Read More: How Do Mutual Funds Work?

Get a free copy of the Zacks research report on China Telecom (CHA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for China Telecom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Telecom and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.