Chunghwa Telecom (NYSE:CHT) Stock Rating Upgraded by Zacks Research

Chunghwa Telecom (NYSE:CHT) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks reports.

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

Chunghwa Telecom Stock Up 0.5%

Shares of NYSE:CHT opened at $45.96 on Thursday. The firm’s 50 day moving average price is $43.16 and its 200 day moving average price is $43.44. The stock has a market cap of $35.66 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. Chunghwa Telecom has a fifty-two week low of $39.28 and a fifty-two week high of $46.48. 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 quarterly earnings results on Tuesday, June 30th. The utilities provider reported $0.43 EPS for the quarter. Chunghwa Telecom had a net margin of 16.11% and a return on equity of 10.00%. The company had revenue of $1.93 billion during the quarter. As a group, equities research analysts predict that Chunghwa Telecom will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of Chunghwa Telecom

Institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC raised its stake in Chunghwa Telecom by 13.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 54,069 shares of the utilities provider’s stock worth $2,393,000 after acquiring an additional 6,344 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Chunghwa Telecom by 26.2% during the second quarter. Tidal Investments LLC now owns 8,035 shares of the utilities provider’s stock worth $356,000 after purchasing an additional 1,668 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Chunghwa Telecom during the second quarter worth about $102,000. Allworth Financial LP increased its position in shares of Chunghwa Telecom by 27.0% during the second quarter. Allworth Financial LP now owns 4,962 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 1,054 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of Chunghwa Telecom during the second quarter worth 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.