Chunghwa Telecom (NYSE:CHT) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Chunghwa Telecom shares crossed above their 200-day moving average, reaching $45.55 before closing at $45.395, up 0.3%. The 200-day moving average was $43.39.
• Analyst sentiment remains cautious: Zacks Research downgraded the stock to “strong sell,” while Weiss Ratings maintained a “hold” rating; MarketBeat reports a consensus rating of “Reduce.”
• The company reported quarterly EPS of $0.43 on $1.93 billion in revenue, with a 16.11% net margin. Institutional investors own 2.11% of the stock, and several firms increased or initiated positions.

Chunghwa Telecom Co., Ltd. (NYSE:CHT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $43.39 and traded as high as $45.55. Chunghwa Telecom shares last traded at $45.3950, with a volume of 342,996 shares.

Wall Street Analyst Weigh In

CHT has been the topic of a number of recent research reports. Zacks Research downgraded Chunghwa Telecom from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of Chunghwa Telecom in a research report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Chunghwa Telecom currently has a consensus rating of "Reduce".

Chunghwa Telecom Stock Up 0.3%

The firm has a market capitalization of $35.21 billion, a P/E ratio of 27.51, a PEG ratio of 2.05 and a beta of 0.29. The firm's 50 day moving average is $42.95 and its two-hundred day moving average is $43.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.22 and a quick ratio of 1.07.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter. The firm had revenue of $1.93 billion for the quarter. Chunghwa Telecom had a net margin of 16.11% and a return on equity of 10.00%. Research analysts predict that Chunghwa Telecom Co., Ltd. will post 1.53 EPS for the current year.

Institutional Investors Weigh In On Chunghwa Telecom

A number of institutional investors and hedge funds have recently modified their holdings of CHT. Cornerstone Financial Management LLC raised 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 period. Integrated Wealth Concepts LLC bought a new position in shares of Chunghwa Telecom during the 2nd quarter worth approximately $102,000. Allworth Financial LP boosted its stake in shares of 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. Angeles Wealth Management LLC acquired a new position in shares of Chunghwa Telecom during the 2nd quarter worth approximately $221,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Chunghwa Telecom during the 4th quarter worth approximately $209,000. 2.11% of the stock is owned by 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.

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.