Chunghwa Telecom (NYSE:CHT) Shares Break Above 200-Day Moving Average – Here’s What Happened

Shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) passed 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 trading hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on CHT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chunghwa Telecom in a report on Friday, July 17th. Zacks Research raised Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a report on Thursday, September 17th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Chunghwa Telecom Trading Down 0.6%

The stock has a market cap of $35.51 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.05 and a beta of 0.27. 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 50 day moving average of $44.00 and a two-hundred day moving average of $43.68.

Chunghwa Telecom (NYSE:CHT) last issued 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 return on equity of 10.00% and a net margin of 16.11%.The company had revenue of $1.93 billion for the quarter. Sell-side analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chunghwa Telecom

Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its stake in Chunghwa Telecom by 2.9% during the first quarter. Bessemer Group Inc. now owns 11,803 shares of the utilities provider’s stock worth $499,000 after purchasing an additional 333 shares during the period. Bridgewater Advisors Inc. boosted its stake in shares of Chunghwa Telecom by 4.3% in the first quarter. Bridgewater Advisors Inc. now owns 10,081 shares of the utilities provider’s stock valued at $439,000 after purchasing an additional 416 shares during the period. Cornerstone Financial Management LLC boosted its stake in shares of Chunghwa Telecom by 153.7% in the second quarter. Cornerstone Financial Management LLC now owns 728 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 441 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Chunghwa Telecom by 7.4% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,736 shares of the utilities provider’s stock valued at $369,000 after purchasing an additional 605 shares in the last quarter. Finally, Syon Capital LLC grew its holdings in shares of Chunghwa Telecom by 6.5% in the second quarter. Syon Capital LLC now owns 10,293 shares of the utilities provider’s stock valued at $456,000 after purchasing an additional 626 shares in the last quarter. Institutional investors and hedge funds own 2.11% of the company’s stock.

About Chunghwa Telecom

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.