Zacks Investment Research Lowers China Telecom (CHA) to Sell

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

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. “

Several other equities analysts also recently weighed in on CHA. UBS Group downgraded China Telecom from a buy rating to a neutral rating in a research report on Thursday, October 18th. Credit Suisse Group downgraded China Telecom from an outperform rating to a neutral rating in a research report on Friday, October 26th. Finally, CLSA downgraded China Telecom from an outperform rating to an underperform rating in a research report on Monday, October 29th. Two 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 stock. The company has a consensus rating of Hold and a consensus target price of $50.00.

NYSE CHA opened at $48.66 on Tuesday. China Telecom has a twelve month low of $41.28 and a twelve month high of $51.49. The stock has a market cap of $38.16 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.80 and a beta of 0.79. The company has a current ratio of 0.29, a quick ratio of 0.27 and a debt-to-equity ratio of 0.14.

A number of large investors have recently made changes to their positions in CHA. Acadian Asset Management LLC increased its stake in China Telecom by 199.3% during the third quarter. Acadian Asset Management LLC now owns 73,643 shares of the utilities provider’s stock worth $3,640,000 after acquiring an additional 49,038 shares during the last quarter. UBS Group AG increased its stake in China Telecom by 142.1% during the first quarter. UBS Group AG now owns 61,246 shares of the utilities provider’s stock worth $2,724,000 after acquiring an additional 35,946 shares during the last quarter. Aperio Group LLC increased its stake in China Telecom by 8.0% during the third quarter. Aperio Group LLC now owns 469,892 shares of the utilities provider’s stock worth $23,222,000 after acquiring an additional 34,935 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in China Telecom during the second quarter worth about $1,185,000. Finally, Private Advisor Group LLC acquired a new stake in China Telecom during the third quarter worth about $992,000. Institutional investors own 0.56% 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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