Chunghwa Telecom (NYSE:CHT) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $42.63 and traded as high as $42.94. Chunghwa Telecom shares last traded at $41.7860, with a volume of 913,955 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Chunghwa Telecom to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chunghwa Telecom in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Chunghwa Telecom Stock Performance

The stock has a fifty day moving average of $42.61 and a 200-day moving average of $42.62. The firm has a market capitalization of $32.42 billion, a P/E ratio of 25.95, a P/E/G ratio of 5.59 and a beta of 0.29. The company has a quick ratio of 1.32, a current ratio of 1.49 and a debt-to-equity ratio of 0.06.

Chunghwa Telecom (NYSE:CHT) last released its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.38 earnings per share for the quarter. The firm had revenue of $2.09 billion during the quarter. Chunghwa Telecom had a return on equity of 9.82% and a net margin of 16.37%. On average, research analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.44 EPS for the current year.

Institutional Investors Weigh In On Chunghwa Telecom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHT. Evergreen Capital Management LLC boosted its stake in shares of Chunghwa Telecom by 1.7% during the 3rd quarter. Evergreen Capital Management LLC now owns 14,822 shares of the utilities provider’s stock worth $647,000 after buying an additional 245 shares during the last quarter. Compound Planning Inc. increased its position in shares of Chunghwa Telecom by 2.6% in the third quarter. Compound Planning Inc. now owns 9,802 shares of the utilities provider’s stock valued at $428,000 after acquiring an additional 251 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Chunghwa Telecom by 65.9% during the third quarter. Farther Finance Advisors LLC now owns 866 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 344 shares in the last quarter. Geode Capital Management LLC raised its holdings in Chunghwa Telecom by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 5,099 shares of the utilities provider’s stock worth $213,000 after acquiring an additional 365 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its position in Chunghwa Telecom by 1.3% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 32,076 shares of the utilities provider’s stock valued at $1,399,000 after purchasing an additional 425 shares during the last quarter. 2.11% of the stock is currently owned by institutional investors and hedge funds.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd. is the largest integrated telecommunications service provider in Taiwan, serving both consumer and enterprise customers across the island and through international telecommunications links. The company offers a full range of voice, data and multimedia services and operates as the incumbent fixed-line operator while also competing in mobile, broadband and enterprise markets. Its network footprint and traffic interchange capabilities support domestic communications and cross-border connectivity for carriers and multinational businesses.

Chunghwa Telecom’s product and service portfolio includes fixed-line telephony, mobile services (including 4G and 5G wireless access), broadband internet (DSL and fiber-to-the-home), and IPTV.