Chunghwa Telecom (NYSE:CHT) Raised to “Hold” at Zacks Research

Chunghwa Telecom (NYSE:CHT) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Chunghwa Telecom in a research report on Monday, April 20th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Chunghwa Telecom has a consensus rating of “Hold”.

Chunghwa Telecom Stock Down 1.4%

CHT stock opened at $44.50 on Tuesday. Chunghwa Telecom has a fifty-two week low of $39.28 and a fifty-two week high of $47.03. The company has a market capitalization of $34.52 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.99 and a beta of 0.29. The business’s 50 day moving average price is $44.13 and its two-hundred day moving average price is $42.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 1.64.

Chunghwa Telecom (NYSE:CHT) last released its quarterly earnings results on Tuesday, March 31st. The utilities provider reported $0.41 earnings per share for the quarter. The company had revenue of $1.88 billion for the quarter. Chunghwa Telecom had a return on equity of 9.90% and a net margin of 16.23%. As a group, analysts forecast that Chunghwa Telecom will post 1.57 earnings per share for the current fiscal year.

Institutional Trading of Chunghwa Telecom

Several hedge funds and other institutional investors have recently made changes to their positions in CHT. Parallel Advisors LLC increased its position in Chunghwa Telecom by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 28,243 shares of the utilities provider’s stock valued at $1,193,000 after buying an additional 4,585 shares in the last quarter. Keel Point LLC bought a new stake in Chunghwa Telecom in the first quarter worth $228,000. Glenmede Trust Co. NA bought a new stake in Chunghwa Telecom in the first quarter worth $218,000. EverSource Wealth Advisors LLC grew its stake in shares of Chunghwa Telecom by 40.1% in the first quarter. EverSource Wealth Advisors LLC now owns 11,359 shares of the utilities provider’s stock worth $480,000 after acquiring an additional 3,250 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Chunghwa Telecom by 41.2% in the first quarter. Quantinno Capital Management LP now owns 297,210 shares of the utilities provider’s stock worth $12,554,000 after acquiring an additional 86,786 shares during the last quarter. Hedge funds and other institutional investors own 2.11% of the company’s stock.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd. is the largest integrated telecommunications service provider in Taiwan, serving both consumer and enterprise customers across the island and through international telecommunications links. The company offers a full range of voice, data and multimedia services and operates as the incumbent fixed-line operator while also competing in mobile, broadband and enterprise markets. Its network footprint and traffic interchange capabilities support domestic communications and cross-border connectivity for carriers and multinational businesses.

Chunghwa Telecom’s product and service portfolio includes fixed-line telephony, mobile services (including 4G and 5G wireless access), broadband internet (DSL and fiber-to-the-home), and IPTV.