Chunghwa Telecom (NYSE:CHT) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Chunghwa Telecom shares crossed above their 200-day moving average, reaching $46.34 compared with the $43.66 average, and last traded at $46.1850.
• Analyst sentiment remains cautious: Zacks Research upgraded the stock from “strong sell” to “hold,” while the two analysts tracked by MarketBeat maintain an overall “Hold” rating.
• The company reported quarterly EPS of $0.43 on $1.93 billion in revenue, with a 16.11% net margin and 10% return on equity. Institutional investors own a relatively small 2.11% stake.

Chunghwa Telecom Co., Ltd. (NYSE:CHT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $43.66 and traded as high as $46.34. Chunghwa Telecom shares last traded at $46.1850, with a volume of 200,389 shares traded.

Wall Street Analyst Weigh In

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

Chunghwa Telecom Stock Performance

The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $43.95 and a 200 day moving average of $43.66. The stock has a market capitalization of $35.83 billion, a P/E ratio of 27.99, a PEG ratio of 2.05 and a beta of 0.27.

Chunghwa Telecom (NYSE:CHT - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The utilities provider reported $0.43 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 $1.93 billion for the quarter. Research analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.56 EPS for the current fiscal year.

Institutional Trading of Chunghwa Telecom

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC lifted its stake in Chunghwa Telecom by 153.7% during the second quarter. Cornerstone Financial Management LLC now owns 728 shares of the utilities provider's stock worth $32,000 after purchasing an additional 441 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Chunghwa Telecom in the 2nd quarter valued at approximately $102,000. Allworth Financial LP grew its stake in shares of Chunghwa Telecom by 27.0% in the 2nd quarter. Allworth Financial LP now owns 4,962 shares of the utilities provider's stock valued at $220,000 after purchasing an additional 1,054 shares during the period. Angeles Wealth Management LLC acquired a new position in shares of Chunghwa Telecom in the 2nd quarter worth approximately $221,000. Finally, Keybank National Association OH bought a new position in shares of Chunghwa Telecom during the 1st quarter worth approximately $218,000. Institutional investors own 2.11% of the company's stock.

Chunghwa Telecom Company Profile

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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