Chunghwa Telecom (NYSE:CHT) Upgraded by Zacks Research to Hold Rating

Key Points

• Zacks Research upgraded Chunghwa Telecom from “strong sell” to “hold,” while Weiss Ratings also maintained a hold rating; MarketBeat reports a consensus “Hold” rating.
• CHT shares opened at $45.96, near their one-year high of $46.48, with a $35.66 billion market capitalization and a 27.86 P/E ratio.
• The company reported quarterly earnings of $0.43 per share on $1.93 billion in revenue, while institutional investors collectively own 2.11% of its stock.

Chunghwa Telecom (NYSE:CHT - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday, Zacks reports.

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Chunghwa Telecom in a research note on Friday, July 17th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Chunghwa Telecom currently has a consensus rating of "Hold".

Chunghwa Telecom Price Performance

Chunghwa Telecom stock opened at $45.96 on Thursday. The stock has a market capitalization of $35.66 billion, a P/E ratio of 27.86, a P/E/G ratio of 2.07 and a beta of 0.29. The company's fifty day moving average price is $43.16 and its 200 day moving average price is $43.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.07 and a current ratio of 1.22. Chunghwa Telecom has a 1 year low of $39.28 and a 1 year high of $46.48.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The utilities provider reported $0.43 earnings per share for the quarter. The company had revenue of $1.93 billion during the quarter. Chunghwa Telecom had a net margin of 16.11% and a return on equity of 10.00%. As a group, equities research analysts anticipate that Chunghwa Telecom will post 1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CHT. Renaissance Technologies LLC grew its holdings in shares of Chunghwa Telecom by 1.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,765,296 shares of the utilities provider's stock worth $116,806,000 after purchasing an additional 36,820 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 period. Quantinno Capital Management LP increased its position in shares of Chunghwa Telecom by 41.2% during 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 period. B. Metzler seel. Sohn & Co. AG increased its holdings in Chunghwa Telecom by 1.0% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 163,363 shares of the utilities provider's stock worth $7,230,000 after purchasing an additional 1,578 shares during the period. Finally, First Trust Advisors LP raised its holdings in Chunghwa Telecom by 1.5% in the first quarter. First Trust Advisors LP now owns 111,312 shares of the utilities provider's stock valued at $4,702,000 after acquiring an additional 1,659 shares in the last quarter. 2.11% of the stock is currently owned by hedge funds and other institutional investors.

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.

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