Chunghwa Telecom (NYSE:CHT) Hits New 52-Week High – Still a Buy?

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares hit a new 52-week high during trading on Monday. The company traded as high as $48.99 and last traded at $48.5690, with a volume of 153,005 shares. The stock had previously closed at $48.51.

Analysts Set New Price Targets

Several research firms recently weighed in on CHT. Zacks Research upgraded shares of Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 17th. Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a research report on Thursday, October 15th. Two analysts have rated the stock with a Hold rating. According to MarketBeat.com, Chunghwa Telecom presently has a consensus rating of “Hold”.

Chunghwa Telecom Stock Performance

The firm has a market cap of $37.74 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 2.15 and a beta of 0.27. The stock’s 50-day moving average price is $45.22 and its 200 day moving average price is $44.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.22 and a quick ratio of 1.07.

Chunghwa Telecom (NYSE:CHT) last posted its quarterly earnings results on Monday, October 12th. The utilities provider reported $0.49 earnings per share for the quarter. The firm had revenue of $2.12 billion during the quarter. Chunghwa Telecom had a return on equity of 10.00% and a net margin of 16.11%. As a group, equities analysts predict that Chunghwa Telecom Co., Ltd. will post 1.56 EPS for the current year.

Hedge Funds Weigh In On Chunghwa Telecom

Hedge funds have recently added to or reduced their stakes in the stock. Cordatus Wealth Management LLC raised its position in Chunghwa Telecom by 2.5% in the third quarter. Cordatus Wealth Management LLC now owns 11,284 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 277 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Chunghwa Telecom by 2.9% in the 1st 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 grew its holdings in shares of Chunghwa Telecom by 76.2% during the third quarter. Nisa Investment Advisors LLC now owns 872 shares of the utilities provider’s stock worth $40,000 after buying an additional 377 shares during the last quarter. Bridgewater Advisors Inc. increased its stake in Chunghwa Telecom by 4.3% in the 1st quarter. Bridgewater Advisors Inc. now owns 10,081 shares of the utilities provider’s stock valued at $439,000 after buying an additional 416 shares during the period. Finally, Cornerstone Financial Management LLC boosted its holdings in Chunghwa Telecom by 153.7% in the 2nd quarter. Cornerstone Financial Management LLC now owns 728 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 441 shares in the last quarter. Institutional investors own 2.11% of the company’s stock.

About Chunghwa Telecom

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.