Equities Analysts Set Expectations for China Telecom Corp Ltd’s FY2017 Earnings (CHA)

China Telecom Corp Ltd (NYSE:CHA) – Investment analysts at Jefferies Group increased their FY2017 EPS estimates for shares of China Telecom Corp in a research report issued on Wednesday. Jefferies Group analyst E. Lee now anticipates that the utilities provider will earn $3.90 per share for the year, up from their prior estimate of $3.85. Jefferies Group also issued estimates for China Telecom Corp’s FY2018 earnings at $4.20 EPS.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of China Telecom Corp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. BidaskClub downgraded shares of China Telecom Corp from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $54.00.

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Shares of China Telecom Corp (CHA) opened at 48.36 on Friday. China Telecom Corp has a 12 month low of $45.58 and a 12 month high of $53.61. The company has a market cap of $39.14 billion, a price-to-earnings ratio of 13.82 and a beta of 0.65. The company’s 50-day moving average price is $47.81 and its 200-day moving average price is $48.36.

Several hedge funds and other institutional investors have recently modified their holdings of the company. World Asset Management Inc boosted its position in shares of China Telecom Corp by 1.0% in the first quarter. World Asset Management Inc now owns 8,644 shares of the utilities provider’s stock valued at $421,000 after buying an additional 83 shares during the period. Comerica Bank boosted its position in shares of China Telecom Corp by 1.3% in the first quarter. Comerica Bank now owns 7,956 shares of the utilities provider’s stock valued at $392,000 after buying an additional 104 shares during the period. Bank of Montreal Can boosted its position in shares of China Telecom Corp by 1.5% in the first quarter. Bank of Montreal Can now owns 7,545 shares of the utilities provider’s stock valued at $367,000 after buying an additional 108 shares during the period. Wells Fargo & Company MN boosted its position in shares of China Telecom Corp by 4.5% in the first quarter. Wells Fargo & Company MN now owns 8,040 shares of the utilities provider’s stock valued at $391,000 after buying an additional 349 shares during the period. Finally, State Street Corp boosted its position in shares of China Telecom Corp by 2.2% in the second quarter. State Street Corp now owns 17,134 shares of the utilities provider’s stock valued at $822,000 after buying an additional 365 shares during the period. 0.41% of the stock is owned by hedge funds and other institutional investors.

About China Telecom Corp

China Telecom Corporation Limited is an investment holding company principally engaged in telecommunications and related businesses. The Company provides integrated information services, including wireline and mobile telecommunications services, Internet access services, information services and other value-added telecommunications services.

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