China Telecom (CHA) Lowered to “Neutral” at New Street Research

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China Telecom (NYSE:CHA) was downgraded by investment analysts at New Street Research from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, January 22nd, The Fly reports.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of China Telecom from a “sell” rating to a “hold” rating in a research note on Thursday, January 3rd. Mizuho cut shares of China Telecom from a “neutral” rating to a “sell” rating in a research note on Monday, November 19th. CLSA cut shares of China Telecom from an “outperform” rating to an “underperform” rating in a research note on Monday, October 29th. Credit Suisse Group cut shares of China Telecom from an “outperform” rating to a “neutral” rating in a research note on Friday, October 26th. Finally, UBS Group cut shares of China Telecom from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $50.00.

Shares of NYSE CHA traded down $0.90 during mid-day trading on Tuesday, reaching $55.52. The company had a trading volume of 25,576 shares, compared to its average volume of 36,088. 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 company has a market capitalization of $44.93 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 2.10 and a beta of 0.77. China Telecom has a 52-week low of $41.28 and a 52-week high of $56.63.

A number of large investors have recently bought and sold shares of CHA. Quadrant Capital Group LLC grew its holdings 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 buying an additional 1,371 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of China Telecom by 52.8% during the third quarter. Parallel Advisors LLC now owns 3,485 shares of the utilities provider’s stock worth $172,000 after buying an additional 1,204 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of China Telecom by 63.0% during the third quarter. Renaissance Technologies LLC now owns 210,700 shares of the utilities provider’s stock worth $10,413,000 after buying an additional 81,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of China Telecom during the third quarter worth about $361,000. Finally, Northern Trust Corp grew its holdings in shares of China Telecom by 18.2% during the second quarter. Northern Trust Corp now owns 21,486 shares of the utilities provider’s stock worth $998,000 after buying an additional 3,309 shares in the last quarter. Hedge funds and other institutional investors own 0.60% of the company’s stock.

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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