Chunghwa Telecom (NYSE:CHT) Lowered to "Strong Sell" Rating by Zacks Research

Key Points

• Zacks Research downgraded Chunghwa Telecom from “hold” to “strong sell,” while Weiss Ratings reiterated a “hold (c)” rating. The stock’s overall consensus rating from analysts is now “Reduce.”
• Shares were trading at $42.38 on Wednesday, below both the 50-day moving average of $44.05 and the 200-day moving average of $43.16. The company has a market cap of $32.88 billion and a low beta of 0.29, indicating relatively modest volatility.
• Recent financial results showed EPS of $0.41 on revenue of $1.88 billion for the quarter ended March 31. Analysts expect Chunghwa Telecom to generate $1.53 in earnings per share for the current fiscal year.

Chunghwa Telecom (NYSE:CHT - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Wednesday,Zacks.com reports.

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Chunghwa Telecom in a report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce".

Chunghwa Telecom Stock Performance

NYSE:CHT opened at $42.38 on Wednesday. The stock has a 50-day moving average price of $44.05 and a 200 day moving average price of $43.16. The stock has a market capitalization of $32.88 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.94 and a beta of 0.29. Chunghwa Telecom has a 12-month low of $39.28 and a 12-month high of $46.48. The company has a current ratio of 1.64, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The utilities provider reported $0.41 earnings per share for the quarter. The business had revenue of $1.88 billion during the quarter. Chunghwa Telecom had a return on equity of 9.90% and a net margin of 16.23%. Equities research analysts forecast that Chunghwa Telecom will post 1.53 EPS for the current fiscal year.

Institutional Trading of Chunghwa Telecom

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in shares of Chunghwa Telecom during the first quarter valued at approximately $298,000. Hsbc Holdings PLC bought a new stake in shares of Chunghwa Telecom during the 2nd quarter worth approximately $291,000. Marshall Wace LLP boosted its holdings in Chunghwa Telecom by 14.2% during the 2nd quarter. Marshall Wace LLP now owns 43,434 shares of the utilities provider's stock valued at $2,024,000 after acquiring an additional 5,400 shares during the period. Sei Investments Co. boosted its holdings in Chunghwa Telecom by 21.3% during the 2nd quarter. Sei Investments Co. now owns 61,030 shares of the utilities provider's stock valued at $2,844,000 after acquiring an additional 10,723 shares during the period. Finally, Quantinno Capital Management LP grew its position in Chunghwa Telecom by 142.6% in the 2nd quarter. Quantinno Capital Management LP now owns 129,440 shares of the utilities provider's stock valued at $6,033,000 after acquiring an additional 76,087 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.