Chunghwa Telecom (NYSE:CHT) Reaches New 52-Week High – Here’s Why

Chunghwa Telecom Co., Ltd. (NYSE:CHT)’s share price reached a new 52-week high during mid-day trading on Friday. The stock traded as high as $50.36 and last traded at $50.1150, with a volume of 3,492 shares trading hands. The stock had previously closed at $49.09.

Analyst Ratings Changes

CHT has been the topic of several recent research reports. Zacks Research raised shares of Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 17th. Weiss Ratings raised Chunghwa Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Chunghwa Telecom has an average rating of “Hold”.

Chunghwa Telecom Trading Up 2.0%

The company has a current ratio of 1.36, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The firm has a market cap of $38.86 billion, a PE ratio of 28.96, a P/E/G ratio of 2.18 and a beta of 0.26. The company’s 50-day moving average is $46.81 and its 200 day moving average is $44.09.

Chunghwa Telecom (NYSE:CHT) last posted its quarterly earnings data on Monday, October 12th. The utilities provider reported $0.49 earnings per share for the quarter. Chunghwa Telecom had a net margin of 16.58% and a return on equity of 10.67%. The firm had revenue of $2.12 billion for the quarter. As a group, sell-side analysts predict that Chunghwa Telecom Co., Ltd. will post 1.56 EPS for the current year.

Institutional Trading of Chunghwa Telecom

Hedge funds and other institutional investors have recently modified their holdings of the business. West Family Investments Inc. lifted its stake in Chunghwa Telecom by 0.6% in the 3rd quarter. West Family Investments Inc. now owns 34,752 shares of the utilities provider’s stock worth $1,581,000 after acquiring an additional 221 shares in the last quarter. Cordatus Wealth Management LLC increased its holdings in shares of Chunghwa Telecom by 2.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 11,284 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 277 shares during the period. Silver Grove Financial Group Inc. increased its holdings in shares of Chunghwa Telecom by 29.2% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,333 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 301 shares during the period. Bessemer Group Inc. increased its holdings in shares of Chunghwa Telecom by 2.9% in the 1st quarter. Bessemer Group Inc. now owns 11,803 shares of the utilities provider’s stock valued at $499,000 after purchasing an additional 333 shares during the period. Finally, Global Retirement Partners LLC lifted its position in shares of Chunghwa Telecom by 7.3% in the third quarter. Global Retirement Partners LLC now owns 5,458 shares of the utilities provider’s stock worth $248,000 after purchasing an additional 372 shares in the last quarter. Institutional investors and hedge funds own 2.11% of the company’s stock.

Chunghwa Telecom Company Profile

Chunghwa Telecom is Taiwan’s largest integrated telecommunications provider. The company offers fixed-line and mobile voice services, broadband internet access, and data communications to consumers, businesses, and government customers. Its business also includes information and communications technology services such as cloud computing, cybersecurity, data-center services, and enterprise networking. Chunghwa Telecom serves customers primarily in Taiwan and provides international telecommunications services through its global network and partnerships.