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

Zacks Research upgraded shares of Chunghwa Telecom (NYSE:CHT) from a strong sell rating to a hold rating in a research note published on Thursday,Zacks reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Chunghwa Telecom in a report on Friday, July 17th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Chunghwa Telecom Stock Performance

Chunghwa Telecom stock opened at $45.96 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.07 and a current ratio of 1.22. The company has a market capitalization of $35.66 billion, a PE ratio of 27.86, a P/E/G ratio of 2.07 and a beta of 0.29. The company has a 50 day moving average price of $43.16 and a 200-day moving average price of $43.44. Chunghwa Telecom has a fifty-two week low of $39.28 and a fifty-two week high of $46.48.

Chunghwa Telecom (NYSE:CHT) last announced its quarterly earnings data on Tuesday, June 30th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter. The company had revenue of $1.93 billion for the quarter. Chunghwa Telecom had a return on equity of 10.00% and a net margin of 16.11%. As a group, equities analysts forecast that Chunghwa Telecom will post 1.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its holdings in Chunghwa Telecom by 13.3% in the second quarter. Sequoia Financial Advisors LLC now owns 54,069 shares of the utilities provider’s stock worth $2,393,000 after purchasing an additional 6,344 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Chunghwa Telecom by 26.2% during the 2nd quarter. Tidal Investments LLC now owns 8,035 shares of the utilities provider’s stock valued at $356,000 after purchasing an additional 1,668 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Chunghwa Telecom in the 2nd quarter worth $102,000. Allworth Financial LP grew its stake in 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 buying an additional 1,054 shares during the last quarter. Finally, Nykredit A S acquired a new position in Chunghwa Telecom during the 2nd quarter valued at about $2,075,000. Hedge funds and other institutional investors own 2.11% of the company’s stock.

About Chunghwa Telecom

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.