China Telecom (CHA) Downgraded by Zacks Investment Research to Sell

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Zacks Investment Research lowered shares of China Telecom (NYSE:CHA) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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 firms have also recently commented on CHA. UBS Group cut shares of China Telecom from a buy rating to a neutral rating in a research report on Thursday, October 18th. Credit Suisse Group cut shares of China Telecom from an outperform rating to a neutral rating in a research report on Friday, October 26th. Finally, CLSA cut shares of China Telecom from an outperform rating to an underperform rating in a research report on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $50.00.

NYSE CHA opened at $49.10 on Tuesday. China Telecom has a 52 week low of $41.28 and a 52 week high of $51.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.27 and a current ratio of 0.29. The firm has a market cap of $39.38 billion, a PE ratio of 14.44, a PEG ratio of 1.94 and a beta of 0.79.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC lifted its position 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 purchasing an additional 1,204 shares in the last quarter. Regal Investment Advisors LLC acquired a new stake in China Telecom in the third quarter valued at $261,000. Greenleaf Trust acquired a new stake in China Telecom in the second quarter valued at $280,000. OLD Mission Capital LLC acquired a new stake in China Telecom in the second quarter valued at $586,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in China Telecom in the third quarter valued at $298,000. 0.56% of the stock is currently owned by institutional investors and hedge funds.

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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