StockNews.com Upgrades Chunghwa Telecom (NYSE:CHT) to “Buy”

StockNews.com upgraded shares of Chunghwa Telecom (NYSE:CHT) from a hold rating to a buy rating in a research note released on Friday.

Chunghwa Telecom Price Performance

Shares of CHT stock opened at $36.70 on Friday. Chunghwa Telecom has a 52-week low of $32.90 and a 52-week high of $41.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.15 and a current ratio of 1.26. The firm has a market capitalization of $28.47 billion, a P/E ratio of 23.23 and a beta of 0.11. The stock has a 50 day moving average price of $36.69 and a 200 day moving average price of $38.79.

Chunghwa Telecom (NYSE:CHT) last issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.42 earnings per share (EPS) for the quarter. Chunghwa Telecom had a return on equity of 9.58% and a net margin of 16.94%. The firm had revenue of $1.74 billion during the quarter.

Institutional Investors Weigh In On Chunghwa Telecom

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Natixis Advisors L.P. raised its position in Chunghwa Telecom by 10.6% during the 2nd quarter. Natixis Advisors L.P. now owns 22,726 shares of the utilities provider’s stock valued at $847,000 after purchasing an additional 2,180 shares in the last quarter. Balentine LLC raised its position in Chunghwa Telecom by 8.9% during the 2nd quarter. Balentine LLC now owns 10,239 shares of the utilities provider’s stock valued at $382,000 after purchasing an additional 841 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Chunghwa Telecom by 3.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 12,263 shares of the utilities provider’s stock valued at $457,000 after purchasing an additional 378 shares in the last quarter. Renaissance Technologies LLC raised its position in Chunghwa Telecom by 2.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,049,769 shares of the utilities provider’s stock valued at $113,726,000 after purchasing an additional 59,489 shares in the last quarter. Finally, BlackRock Inc. raised its position in Chunghwa Telecom by 6.3% during the 2nd quarter. BlackRock Inc. now owns 2,893,770 shares of the utilities provider’s stock valued at $107,909,000 after purchasing an additional 170,632 shares in the last quarter. 2.16% of the stock is owned by institutional investors.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd., together with its subsidiaries, provides telecommunication services in Taiwan and internationally. It operates through Consumer Business, Enterprise Business, International Business, and Others segments. The company offers local long distance services comprising of local calls, cloud switchboard, and value-added local calls.