China Telecom (CHA) Lifted to Buy at Goldman Sachs Group

Goldman Sachs Group upgraded shares of China Telecom (NYSE:CHA) from a neutral rating to a buy rating in a research note published on Sunday, Benzinga reports. They currently have $53.90 price target on the utilities provider’s stock.

Several other equities research analysts have also recently weighed in on CHA. Zacks Investment Research cut shares of China Telecom from a buy rating to a hold rating in a research report on Wednesday, March 13th. New Street Research cut shares of China Telecom from a neutral rating to a reduce rating in a research report on Monday, February 11th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $57.95.

China Telecom stock opened at $54.57 on Friday. The stock has a market capitalization of $43.62 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 1.59 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.28 and a quick ratio of 0.26. China Telecom has a 1 year low of $44.20 and a 1 year high of $57.09.

The firm also recently declared an annual dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, June 3rd will be given a $1.5942 dividend. This represents a dividend yield of 2.93%. The ex-dividend date is Friday, May 31st. This is a boost from China Telecom’s previous annual dividend of $1.47. China Telecom’s dividend payout ratio is presently 34.65%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in shares of China Telecom by 1.6% in the 4th quarter. Advisors Asset Management Inc. now owns 42,344 shares of the utilities provider’s stock worth $2,148,000 after purchasing an additional 666 shares during the period. Rehmann Capital Advisory Group raised its stake in shares of China Telecom by 34.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,435 shares of the utilities provider’s stock worth $174,000 after acquiring an additional 879 shares in the last quarter. LSV Asset Management raised its stake in shares of China Telecom by 2.4% during the 4th quarter. LSV Asset Management now owns 46,690 shares of the utilities provider’s stock worth $2,368,000 after acquiring an additional 1,100 shares in the last quarter. First Republic Investment Management Inc. raised its stake in shares of China Telecom by 26.5% during the 3rd quarter. First Republic Investment Management Inc. now owns 6,279 shares of the utilities provider’s stock worth $310,000 after acquiring an additional 1,316 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of China Telecom by 374.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,737 shares of the utilities provider’s stock worth $87,000 after acquiring an additional 1,371 shares in the last quarter. 0.55% of the stock is owned by hedge funds and other institutional investors.

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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