Chunghwa Telecom (NYSE:CHT) Sets New 1-Year High - What's Next?

Key Points

• Chunghwa Telecom shares hit a new 52-week high of $47.84 and were last trading at $47.67, above their 50-day and 200-day moving averages.
• Analysts maintain a consensus “Hold” rating; Zacks Research upgraded the stock from “strong sell” to “hold,” while Weiss Ratings reaffirmed its “hold” assessment.
• The company reported quarterly earnings of $0.49 per share on $2.12 billion in revenue, with a 16.11% net margin; institutional investors own 2.11% of the stock.

Shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT - Get Free Report) reached a new 52-week high on Tuesday. The stock traded as high as $47.84 and last traded at $47.67, with a volume of 131,845 shares trading hands. The stock had previously closed at $47.64.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Chunghwa Telecom in a report on Thursday. Zacks Research raised shares of Chunghwa Telecom from a "strong sell" rating to a "hold" rating in a report on Thursday, September 17th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

Chunghwa Telecom Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.22 and a quick ratio of 1.07. The company has a fifty day moving average price of $44.76 and a 200 day moving average price of $43.96. The company has a market capitalization of $36.98 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 2.11 and a beta of 0.27.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last announced its quarterly earnings results on Monday, October 12th. The utilities provider reported $0.49 earnings per share for the quarter. The business had revenue of $2.12 billion for the quarter. Chunghwa Telecom had a return on equity of 10.00% and a net margin of 16.11%. On average, sell-side analysts forecast that Chunghwa Telecom Co., Ltd. will post 1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Chunghwa Telecom

Large investors have recently added to or reduced their stakes in the stock. Cornerstone Financial Management LLC lifted its stake in Chunghwa Telecom by 153.7% in the second quarter. Cornerstone Financial Management LLC now owns 728 shares of the utilities provider's stock valued at $32,000 after buying an additional 441 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Chunghwa Telecom during the second quarter valued at $102,000. Keybank National Association OH bought a new position in shares of Chunghwa Telecom during the first quarter worth about $218,000. Glenmede Trust Co. NA bought a new position in shares of Chunghwa Telecom during the first quarter worth about $218,000. Finally, Allworth Financial LP grew its position in shares of Chunghwa Telecom by 27.0% during the second quarter. Allworth Financial LP now owns 4,962 shares of the utilities provider's stock worth $220,000 after acquiring an additional 1,054 shares during the last quarter. 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 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.

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