Chunghwa Telecom Co., Ltd. (NYSE:CHT – Get Free Report) reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $49.27 and last traded at $49.06, with a volume of 8,092 shares. The stock had previously closed at $48.63.
The utilities provider reported $0.49 earnings per share for the quarter. Chunghwa Telecom had a return on equity of 10.61% and a net margin of 16.58%. The business had revenue of $2.12 billion for the quarter.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on CHT shares. Zacks Research upgraded shares of Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a report on Thursday, September 17th. Weiss Ratings raised shares of Chunghwa Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Chunghwa Telecom currently has an average rating of “Hold”.
Get Our Latest Research Report on Chunghwa Telecom
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. lifted its holdings in Chunghwa Telecom by 22.5% during the third quarter. Eurizon Capital SGR S.p.A. now owns 14,733 shares of the utilities provider’s stock worth $673,000 after buying an additional 2,702 shares during the period. R Squared Ltd boosted its position in Chunghwa Telecom by 10.1% during the 3rd quarter. R Squared Ltd now owns 52,700 shares of the utilities provider’s stock valued at $2,397,000 after acquiring an additional 4,849 shares in the last quarter. Silver Grove Financial Group Inc. increased its holdings in shares of 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 acquiring an additional 301 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in shares of Chunghwa Telecom in the 3rd quarter valued at $210,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Chunghwa Telecom in the 3rd quarter valued at $211,000. 2.11% of the stock is currently owned by hedge funds and other institutional investors.
Chunghwa Telecom Trading Down 0.3%
The stock has a market capitalization of $37.87 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 2.17 and a beta of 0.26. 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 company has a 50-day moving average price of $46.21 and a 200 day moving average price of $43.92.
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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