Chunghwa Telecom (NYSE:CHT) Stock Breaks Above 200 Day Moving Average - What's Next?

Key Points

• Chunghwa Telecom shares rose above their 200-day moving average, reaching $46.47 versus the $43.81 average, with the stock last trading near $46.10.
• Analysts maintain a broadly neutral view: the company has a consensus “Hold” rating, while Zacks Research upgraded it from “strong sell” to “hold.”
• The company reported quarterly EPS of $0.49 on $2.12 billion in revenue, with a 16.11% net margin; analysts expect full-year EPS of approximately $1.56.

Chunghwa Telecom Co., Ltd. (NYSE:CHT - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $43.81 and traded as high as $46.47. Chunghwa Telecom shares last traded at $46.1040, with a volume of 239,382 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Chunghwa Telecom in a research report on Friday, July 17th. Zacks Research raised Chunghwa Telecom from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 17th. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Chunghwa Telecom Price Performance

The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06. The business's 50-day simple moving average is $44.35 and its two-hundred day simple moving average is $43.81. The firm has a market cap of $35.76 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 2.05 and a beta of 0.27.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last issued its quarterly earnings results on Thursday, September 10th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter. Chunghwa Telecom had a net margin of 16.11% and a return on equity of 10.00%. The firm had revenue of $2.12 billion for the quarter. As a group, research analysts expect that Chunghwa Telecom Co., Ltd. will post 1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Chunghwa Telecom

A number of hedge funds have recently bought and sold shares of CHT. QRG Capital Management Inc. acquired a new position in Chunghwa Telecom in the second quarter valued at $272,000. Sequoia Financial Advisors LLC boosted its position in Chunghwa Telecom by 13.3% during the second quarter. Sequoia Financial Advisors LLC now owns 54,069 shares of the utilities provider's stock valued at $2,393,000 after acquiring an additional 6,344 shares during the last quarter. Tidal Investments LLC boosted its position in Chunghwa Telecom by 26.2% during the second quarter. Tidal Investments LLC now owns 8,035 shares of the utilities provider's stock valued at $356,000 after acquiring an additional 1,668 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Chunghwa Telecom during the 2nd quarter worth about $102,000. Finally, Allworth Financial LP grew its holdings in Chunghwa Telecom by 27.0% during the 2nd 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 period. 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 incumbent carrier. The company was established in 1996 following the corporatization of Taiwan's Directorate General of Telecommunications and is headquartered in Taipei. Its American depositary shares trade on the New York Stock Exchange under the symbol CHT.

Chunghwa Telecom provides fixed-line telephone services, mobile communications, broadband internet access, and related digital connectivity products.

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