Chunghwa Telecom (NYSE:CHT) Stock Price Down 4.5% – Here’s Why

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares traded down 4.5% during trading on Thursday . The company traded as low as $41.55 and last traded at $41.5950. Approximately 4,135 shares changed hands during trading, a decline of 98% from the average session volume of 178,660 shares. The stock had previously closed at $43.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Zacks Research raised Chunghwa Telecom to a “hold” rating in a research report on Tuesday, June 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chunghwa Telecom in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Chunghwa Telecom presently has a consensus rating of “Hold”.

Chunghwa Telecom Price Performance

The stock has a market cap of $32.20 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.83 and a beta of 0.29. The company has a current ratio of 1.64, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $44.26 and its 200-day simple moving average is $43.11.

Chunghwa Telecom (NYSE:CHT) last released its quarterly earnings data on Tuesday, March 31st. The utilities provider reported $0.41 EPS for the quarter. Chunghwa Telecom had a net margin of 16.23% and a return on equity of 9.90%. The company had revenue of $1.88 billion during the quarter. As a group, sell-side analysts forecast that Chunghwa Telecom Co., Ltd. will post 1.57 EPS for the current year.

Chunghwa Telecom Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 9th will be paid a dividend of $1.6525 per share. The ex-dividend date is Thursday, July 9th. This represents a yield of 398.0%. Chunghwa Telecom’s dividend payout ratio (DPR) is currently 78.66%.

Institutional Investors Weigh In On Chunghwa Telecom

Several large investors have recently modified their holdings of CHT. Parallel Advisors LLC lifted its position in shares of Chunghwa Telecom by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 28,243 shares of the utilities provider’s stock worth $1,193,000 after buying an additional 4,585 shares during the period. Keel Point LLC bought a new stake in Chunghwa Telecom in the first quarter valued at $228,000. Glenmede Trust Co. NA acquired a new position in Chunghwa Telecom during the first quarter worth $218,000. EverSource Wealth Advisors LLC raised its stake in Chunghwa Telecom by 40.1% during the first quarter. EverSource Wealth Advisors LLC now owns 11,359 shares of the utilities provider’s stock worth $480,000 after acquiring an additional 3,250 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Chunghwa Telecom by 41.2% during the first 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. 2.11% of the stock is currently owned by institutional investors.

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.