Chunghwa Telecom (NYSE:CHT) Shares Pass Above 200-Day Moving Average – Here’s Why

Shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $42.38 and traded as high as $43.45. Chunghwa Telecom shares last traded at $43.3150, with a volume of 147,185 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a research report on Monday, April 20th. Zacks Research upgraded Chunghwa Telecom to a “hold” rating in a research report on Monday, January 12th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Chunghwa Telecom Price Performance

The stock has a market cap of $33.60 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 5.77 and a beta of 0.29. The company has a 50-day moving average of $42.88 and a 200-day moving average of $42.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.29 and a current ratio of 1.45.

Chunghwa Telecom (NYSE:CHT) last issued its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter. The firm had revenue of $2.09 billion for the quarter. Chunghwa Telecom had a return on equity of 9.85% and a net margin of 16.37%. As a group, equities research analysts predict that Chunghwa Telecom Co., Ltd. will post 1.59 earnings per share for the current year.

Hedge Funds Weigh In On Chunghwa Telecom

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHT. Mondrian Investment Partners LTD acquired a new position in Chunghwa Telecom during the 3rd quarter worth approximately $9,865,000. B. Metzler seel. Sohn & Co. AG acquired a new position in Chunghwa Telecom during the 4th quarter worth approximately $6,554,000. Goldman Sachs Group Inc. increased its position in Chunghwa Telecom by 67.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 368,306 shares of the utilities provider’s stock worth $15,362,000 after purchasing an additional 148,378 shares during the period. First Trust Advisors LP increased its position in Chunghwa Telecom by 342.2% during the 3rd quarter. First Trust Advisors LP now owns 98,929 shares of the utilities provider’s stock worth $4,315,000 after purchasing an additional 76,558 shares during the period. Finally, Quantinno Capital Management LP increased its position in Chunghwa Telecom by 142.6% during the 2nd quarter. Quantinno Capital Management LP now owns 129,440 shares of the utilities provider’s stock worth $6,033,000 after purchasing an additional 76,087 shares during the period. Institutional investors and hedge funds own 2.11% of the company’s stock.

About Chunghwa Telecom

Chunghwa Telecom Co, Ltd. is the largest integrated telecommunications service provider in Taiwan, serving both consumer and enterprise customers across the island and through international telecommunications links. The company offers a full range of voice, data and multimedia services and operates as the incumbent fixed-line operator while also competing in mobile, broadband and enterprise markets. Its network footprint and traffic interchange capabilities support domestic communications and cross-border connectivity for carriers and multinational businesses.

Chunghwa Telecom’s product and service portfolio includes fixed-line telephony, mobile services (including 4G and 5G wireless access), broadband internet (DSL and fiber-to-the-home), and IPTV.