Chunghwa Telecom (NYSE:CHT) Hits New 52-Week High – Should You Buy?

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares hit a new 52-week high during trading on Wednesday. The company traded as high as $46.48 and last traded at $46.4550, with a volume of 52,247 shares. The stock had previously closed at $46.10.

Analyst Upgrades and Downgrades

CHT has been the subject of several recent research reports. Zacks Research upgraded Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Chunghwa Telecom in a report on Thursday. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Chunghwa Telecom currently has a consensus rating of “Hold”.

Chunghwa Telecom Stock Performance

The business’s 50-day simple moving average is $44.55 and its two-hundred day simple moving average is $43.88. The firm has a market cap of $36.95 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 2.06 and a beta of 0.27. The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.06.

Chunghwa Telecom (NYSE:CHT) last posted its earnings results on Thursday, September 10th. The utilities provider reported $0.49 EPS for the quarter. Chunghwa Telecom had a return on equity of 10.00% and a net margin of 16.11%. The firm had revenue of $2.12 billion for the quarter. As a group, sell-side analysts expect that Chunghwa Telecom Co., Ltd. will post 1.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chunghwa Telecom

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in shares of Chunghwa Telecom by 1.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,765,296 shares of the utilities provider’s stock worth $116,806,000 after buying an additional 36,820 shares during the period. Dimensional Fund Advisors LP grew its stake in Chunghwa Telecom by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 548,080 shares of the utilities provider’s stock valued at $23,145,000 after acquiring an additional 31,280 shares during the period. Quantinno Capital Management LP grew its stake in 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 acquiring an additional 86,786 shares during the period. B. Metzler seel. Sohn & Co. AG grew its stake in Chunghwa Telecom by 1.0% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 163,363 shares of the utilities provider’s stock valued at $7,230,000 after acquiring an additional 1,578 shares during the period. Finally, First Trust Advisors LP increased its holdings in Chunghwa Telecom by 1.5% in the 1st quarter. First Trust Advisors LP now owns 111,312 shares of the utilities provider’s stock worth $4,702,000 after acquiring an additional 1,659 shares in the last quarter. 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 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.