Chunghwa Telecom (NYSE:CHT) Hits New 1-Year High Following Earnings Beat

Shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) reached a new 52-week high on Wednesday following a better than expected earnings announcement. The stock traded as high as $49.27 and last traded at $49.06, with a volume of 8,092 shares trading hands. The stock had previously closed at $48.63.

The utilities provider reported $0.49 earnings per share (EPS) for the quarter. Chunghwa Telecom had a net margin of 16.58% and a return on equity of 10.61%. The firm had revenue of $2.12 billion for the quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CHT. Zacks Research upgraded Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 17th. Weiss Ratings upgraded Chunghwa Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. Two analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Institutional Trading of Chunghwa Telecom

Large investors have recently added to or reduced their stakes in the company. Cordatus Wealth Management LLC boosted its position in Chunghwa Telecom by 2.5% during the third quarter. Cordatus Wealth Management LLC now owns 11,284 shares of the utilities provider’s stock worth $513,000 after purchasing an additional 277 shares during the period. Silver Grove Financial Group Inc. increased its holdings in shares of Chunghwa Telecom by 29.2% in the third quarter. Silver Grove Financial Group Inc. now owns 1,333 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 301 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Chunghwa Telecom by 2.9% in the first quarter. Bessemer Group Inc. now owns 11,803 shares of the utilities provider’s stock valued at $499,000 after purchasing an additional 333 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Chunghwa Telecom by 76.2% in the third quarter. Nisa Investment Advisors LLC now owns 872 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 377 shares during the period. Finally, Bridgewater Advisors Inc. raised its position in shares of Chunghwa Telecom by 4.3% in the first quarter. Bridgewater Advisors Inc. now owns 10,081 shares of the utilities provider’s stock valued at $439,000 after purchasing an additional 416 shares during the period. Institutional investors and hedge funds own 2.11% of the company’s stock.

Chunghwa Telecom Price Performance

The company’s 50-day moving average price is $46.21 and its two-hundred day moving average price is $43.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.22 and a quick ratio of 1.07. The company has a market capitalization of $37.87 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 2.17 and a beta of 0.26.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd. is Taiwan’s largest integrated telecommunications provider and the country’s former state-owned telecommunications operator. The company was established in 1996 following the corporatization of Taiwan’s Directorate General of Telecommunications and was subsequently privatized. Chunghwa Telecom is headquartered in New Taipei City, Taiwan.

The company provides fixed-line voice services, mobile communications, broadband internet access, and related digital communications products.