Chunghwa Telecom (NYSE:CHT) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Chunghwa Telecom (NYSE:CHT) to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chunghwa Telecom in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Chunghwa Telecom Price Performance

CHT opened at $44.50 on Tuesday. The business has a fifty day moving average of $44.13 and a 200 day moving average of $42.91. Chunghwa Telecom has a 52-week low of $39.28 and a 52-week high of $47.03. The company has a quick ratio of 1.46, a current ratio of 1.64 and a debt-to-equity ratio of 0.06. The stock has a market cap of $34.52 billion, a P/E ratio of 27.14, a PEG ratio of 1.99 and a beta of 0.29.

Chunghwa Telecom (NYSE:CHT) last released its earnings results on Tuesday, March 31st. The utilities provider reported $0.41 earnings per share for the quarter. The business had revenue of $1.88 billion during the quarter. Chunghwa Telecom had a return on equity of 9.90% and a net margin of 16.23%. As a group, sell-side analysts anticipate that Chunghwa Telecom will post 1.57 EPS for the current year.

Chunghwa Telecom Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 9th will be given a dividend of $1.6525 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a dividend yield of 370.0%. Chunghwa Telecom’s dividend payout ratio is presently 79.27%.

Hedge Funds Weigh In On Chunghwa Telecom

Several institutional investors have recently made changes to their positions in CHT. B. Metzler seel. Sohn & Co. AG purchased a new stake in Chunghwa Telecom in the fourth quarter worth about $6,554,000. Goldman Sachs Group Inc. raised its holdings in shares of Chunghwa Telecom by 67.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 368,306 shares of the utilities provider’s stock valued at $15,362,000 after purchasing an additional 148,378 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Chunghwa Telecom by 41.2% in the 1st quarter. Quantinno Capital Management LP now owns 297,210 shares of the utilities provider’s stock valued at $12,554,000 after purchasing an additional 86,786 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Chunghwa Telecom by 342.2% in the 3rd quarter. First Trust Advisors LP now owns 98,929 shares of the utilities provider’s stock valued at $4,315,000 after purchasing an additional 76,558 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Chunghwa Telecom by 20.0% in the 3rd quarter. Creative Planning now owns 380,892 shares of the utilities provider’s stock worth $16,615,000 after purchasing an additional 63,523 shares during the period. Hedge funds and other institutional investors own 2.11% of the company’s stock.

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.