China Telecom (CHA) Lowered to Neutral at Credit Suisse Group

Credit Suisse Group downgraded shares of China Telecom (NYSE:CHA) from an outperform rating to a neutral rating in a research note released on Friday, Marketbeat reports.

A number of other research analysts have also recently issued reports on CHA. Zacks Investment Research upgraded shares of China Telecom from a strong sell rating to a hold rating in a report on Friday, July 6th. UBS Group cut shares of China Telecom from a buy rating to a neutral rating in a report on Thursday, October 18th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $50.00.

Shares of NYSE CHA opened at $48.38 on Friday. The company has a market cap of $39.15 billion, a P/E ratio of 14.23, a PEG ratio of 1.85 and a beta of 0.81. The company has a quick ratio of 0.27, a current ratio of 0.29 and a debt-to-equity ratio of 0.14. China Telecom has a 52-week low of $41.28 and a 52-week high of $51.49.



A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP grew its holdings in China Telecom by 4.6% during the second quarter. First Trust Advisors LP now owns 59,718 shares of the utilities provider’s stock valued at $2,773,000 after purchasing an additional 2,639 shares during the period. Northern Trust Corp grew its holdings in China Telecom by 18.2% during the second quarter. Northern Trust Corp now owns 21,486 shares of the utilities provider’s stock valued at $998,000 after purchasing an additional 3,309 shares during the period. Greenleaf Trust acquired a new position in China Telecom during the second quarter valued at approximately $280,000. Bank of Montreal Can grew its holdings in China Telecom by 20.8% during the second quarter. Bank of Montreal Can now owns 46,812 shares of the utilities provider’s stock valued at $2,173,000 after purchasing an additional 8,061 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in China Telecom by 28.3% during the second quarter. Advisors Asset Management Inc. now owns 39,019 shares of the utilities provider’s stock valued at $1,852,000 after purchasing an additional 8,616 shares during the period. Hedge funds and other institutional investors own 0.56% 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 to Profit and Limit Losses With Stop Orders

Analyst Recommendations for China Telecom (NYSE:CHA)

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.

Leave a Reply