Equities Analysts Offer Predictions for China Telecom Corp Ltd’s FY2017 Earnings (CHA)

China Telecom Corp Ltd (NYSE:CHA) – Equities researchers at Jefferies Group boosted their FY2017 earnings per share estimates for China Telecom Corp in a research note issued on Tuesday. Jefferies Group analyst E. Lee now forecasts that the utilities provider will post earnings of $3.85 per share for the year, up from their prior forecast of $3.77. Jefferies Group also issued estimates for China Telecom Corp’s FY2018 earnings at $4.00 EPS, FY2019 earnings at $3.70 EPS and FY2021 earnings at $2.52 EPS.

A number of other analysts also recently issued reports on the company. Zacks Investment Research raised China Telecom Corp from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Tuesday, June 27th. BidaskClub downgraded China Telecom Corp from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $54.00.

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Shares of China Telecom Corp (CHA) remained flat at $47.96 during mid-day trading on Wednesday. 6,700 shares of the company were exchanged. China Telecom Corp has a 12-month low of $45.58 and a 12-month high of $53.87. The company’s 50 day moving average is $48.06 and its 200-day moving average is $48.35. The company has a market capitalization of $38.82 billion, a P/E ratio of 14.53 and a beta of 0.66.

A number of institutional investors have recently made changes to their positions in CHA. Acadian Asset Management LLC increased its position in shares of China Telecom Corp by 109.6% in the second quarter. Acadian Asset Management LLC now owns 10,280 shares of the utilities provider’s stock worth $493,000 after buying an additional 5,375 shares during the period. Greenleaf Trust acquired a new position in shares of China Telecom Corp during the second quarter worth $240,000. US Bancorp DE increased its position in shares of China Telecom Corp by 58.6% in the second quarter. US Bancorp DE now owns 10,678 shares of the utilities provider’s stock worth $512,000 after buying an additional 3,947 shares during the period. Aperio Group LLC increased its position in shares of China Telecom Corp by 25.5% in the second quarter. Aperio Group LLC now owns 334,920 shares of the utilities provider’s stock worth $16,053,000 after buying an additional 68,058 shares during the period. Finally, Diversified Trust Co acquired a new position in shares of China Telecom Corp during the second quarter worth $208,000. 0.43% of the stock is currently owned by hedge funds and other institutional investors.

China Telecom Corp Company Profile

China Telecom Corporation Limited is an investment holding company principally engaged in telecommunications and related businesses. The Company operates through seven businesses. Wireline Voice Services include local and long distance wireline services. Mobile Voice Services include local calls, domestic and international long distance calls and roaming services.

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