China Telecom (NYSE:CHA) – Equities researchers at Jefferies Group raised their FY2020 EPS estimates for shares of China Telecom in a research report issued to clients and investors on Tuesday, April 17th. Jefferies Group analyst E. Lee now anticipates that the utilities provider will post earnings of $4.29 per share for the year, up from their previous estimate of $4.13. Jefferies Group currently has a “Buy” rating on the stock.
Other equities analysts have also issued reports about the company. Zacks Investment Research raised China Telecom from a “strong sell” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Friday, April 6th. Nomura lowered China Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 12th. Finally, CLSA raised China Telecom from an “underperform” rating to an “outperform” rating in a research report on Wednesday, March 28th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. China Telecom has a consensus rating of “Buy” and an average target price of $50.00.
Shares of CHA opened at $45.86 on Thursday. China Telecom has a 52-week low of $41.28 and a 52-week high of $53.78. The company has a quick ratio of 0.24, a current ratio of 0.26 and a debt-to-equity ratio of 0.15.
Hedge funds have recently bought and sold shares of the stock. OLD Mission Capital LLC acquired a new stake in shares of China Telecom during the 4th quarter valued at approximately $396,000. Greenleaf Trust raised its position in shares of China Telecom by 46.9% during the 4th quarter. Greenleaf Trust now owns 10,620 shares of the utilities provider’s stock valued at $504,000 after acquiring an additional 3,391 shares in the last quarter. Northern Trust Corp raised its position in shares of China Telecom by 8.7% during the 2nd quarter. Northern Trust Corp now owns 12,025 shares of the utilities provider’s stock valued at $577,000 after acquiring an additional 958 shares in the last quarter. State Street Corp raised its position in shares of China Telecom by 2.2% during the 2nd quarter. State Street Corp now owns 17,134 shares of the utilities provider’s stock valued at $822,000 after acquiring an additional 365 shares in the last quarter. Finally, Profund Advisors LLC raised its position in shares of China Telecom by 23.2% during the 4th quarter. Profund Advisors LLC now owns 27,786 shares of the utilities provider’s stock valued at $1,319,000 after acquiring an additional 5,225 shares in the last quarter. 0.46% of the stock is currently owned by institutional investors and hedge funds.
The company also recently declared an annual dividend, which will be paid on Monday, August 6th. Investors of record on Thursday, May 31st will be given a dividend of $1.4651 per share. This is a positive change from China Telecom’s previous annual dividend of $1.35. This represents a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, May 30th. China Telecom’s dividend payout ratio is currently 36.12%.
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.
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