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

Chunghwa Telecom (NYSE:CHT) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Chunghwa Telecom Stock Performance

Shares of CHT stock opened at $45.96 on Thursday. Chunghwa Telecom has a 52-week low of $39.28 and a 52-week high of $46.48. The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average price is $43.16 and its 200 day moving average price is $43.44. The stock has a market capitalization of $35.66 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29.

Chunghwa Telecom (NYSE:CHT) last issued its quarterly earnings results on Tuesday, June 30th. The utilities provider reported $0.43 earnings per share for the quarter. Chunghwa Telecom had a return on equity of 10.00% and a net margin of 16.11%.The firm had revenue of $1.93 billion during the quarter. As a group, equities research analysts forecast that Chunghwa Telecom will post 1.53 EPS for the current year.

Institutional Investors Weigh In On Chunghwa Telecom

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in shares of Chunghwa Telecom by 1.3% in the first quarter. Renaissance Technologies LLC now owns 2,765,296 shares of the utilities provider’s stock valued at $116,806,000 after purchasing an additional 36,820 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Chunghwa Telecom by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 548,080 shares of the utilities provider’s stock worth $23,145,000 after buying an additional 31,280 shares during the last quarter. R Squared Ltd boosted its holdings in Chunghwa Telecom by 97.3% in the first quarter. R Squared Ltd now owns 55,164 shares of the utilities provider’s stock valued at $2,330,000 after acquiring an additional 27,200 shares during the last quarter. Nykredit A S acquired a new position in shares of Chunghwa Telecom in the 2nd quarter valued at about $2,075,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Chunghwa Telecom during the fourth quarter worth approximately $1,323,000. 2.11% of the stock is owned by institutional investors and hedge funds.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd. is Taiwan’s largest integrated telecommunications provider and the issuer of American depositary shares traded on the New York Stock Exchange under the symbol CHT. The company provides fixed-line voice services, mobile communications, broadband internet access and related telecommunications services to residential, business and government customers.

Its consumer offerings also include multimedia and digital entertainment services, such as its MOD television platform, while its enterprise business provides information and communications technology solutions, cloud services, data-center operations, cybersecurity, managed networks and other digital services.