Chunghwa Telecom (NYSE:CHT) Reaches New 52-Week High - Here's Why

Key Points

• Chunghwa Telecom hit a new 52-week high, reaching $50.36 and last trading at $50.115, up from its prior close of $49.09.
• Analyst sentiment remains cautious: two analysts rate the stock Hold, and MarketBeat reports a consensus rating of Hold, despite recent upgrades from Zacks Research and Weiss Ratings.
• The company reported quarterly EPS of $0.49 on $2.12 billion in revenue, with a 16.58% net margin; analysts expect full-year EPS of $1.56.

Chunghwa Telecom Co., Ltd. (NYSE:CHT - Get Free Report) shares hit a new 52-week high during trading on Friday. The company traded as high as $50.36 and last traded at $50.1150, with a volume of 3,492 shares trading hands. The stock had previously closed at $49.09.

Analyst Ratings Changes

CHT has been the subject of a number of recent analyst reports. 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 research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Chunghwa Telecom Stock Performance

The stock's 50-day moving average price is $46.81 and its 200-day moving average price is $44.09. The company has a current ratio of 1.36, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $38.86 billion, a P/E ratio of 28.96, a P/E/G ratio of 2.18 and a beta of 0.26.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last announced its quarterly earnings data on Monday, October 12th. The utilities provider reported $0.49 earnings per share for the quarter. Chunghwa Telecom had a net margin of 16.58% and a return on equity of 10.67%. The business had revenue of $2.12 billion during the quarter. As a group, equities analysts expect that Chunghwa Telecom Co., Ltd. will post 1.56 EPS for the current year.

Institutional Trading of Chunghwa Telecom

Several hedge funds have recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC raised its stake in shares of Chunghwa Telecom by 153.7% during the second 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. Nisa Investment Advisors LLC grew its position in Chunghwa Telecom by 76.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 872 shares of the utilities provider's stock valued at $40,000 after buying an additional 377 shares in the last quarter. Silver Grove Financial Group Inc. grew its position in Chunghwa Telecom by 29.2% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,333 shares of the utilities provider's stock valued at $61,000 after buying an additional 301 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in Chunghwa Telecom by 52.5% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,107 shares of the utilities provider's stock valued at $96,000 after buying an additional 725 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in Chunghwa Telecom during the 2nd quarter valued at about $102,000. Institutional investors own 2.11% of the company's stock.

About Chunghwa Telecom

Chunghwa Telecom is Taiwan's largest integrated telecommunications provider. The company offers fixed-line and mobile voice services, broadband internet access, and data communications to consumers, businesses, and government customers. Its business also includes information and communications technology services such as cloud computing, cybersecurity, data-center services, and enterprise networking. Chunghwa Telecom serves customers primarily in Taiwan and provides international telecommunications services through its global network and partnerships.

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