Chunghwa Telecom (NYSE:CHT) Rating Increased to Buy at StockNews.com

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

Chunghwa Telecom Trading Up 0.3 %

Shares of Chunghwa Telecom stock opened at $38.91 on Friday. The firm has a market cap of $30.19 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 19.75 and a beta of 0.20. Chunghwa Telecom has a 52-week low of $35.92 and a 52-week high of $40.62. The company’s 50-day simple moving average is $37.89 and its 200-day simple moving average is $37.99. The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 0.06.

Chunghwa Telecom (NYSE:CHT) last released its earnings results on Thursday, January 23rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter. Chunghwa Telecom had a return on equity of 9.25% and a net margin of 16.09%. As a group, equities research analysts anticipate that Chunghwa Telecom will post 1.47 earnings per share for the current year.

Institutional Investors Weigh In On Chunghwa Telecom

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Chunghwa Telecom by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 407,062 shares of the utilities provider’s stock valued at $15,710,000 after purchasing an additional 16,428 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Chunghwa Telecom by 120.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 915,853 shares of the utilities provider’s stock valued at $36,332,000 after buying an additional 500,475 shares in the last quarter. Creative Planning lifted its position in shares of Chunghwa Telecom by 32.7% during the 2nd quarter. Creative Planning now owns 123,493 shares of the utilities provider’s stock valued at $4,768,000 after acquiring an additional 30,410 shares during the period. Bank of Montreal Can boosted its stake in shares of Chunghwa Telecom by 178.8% during the 2nd quarter. Bank of Montreal Can now owns 103,593 shares of the utilities provider’s stock worth $4,074,000 after acquiring an additional 66,441 shares in the last quarter. Finally, Barclays PLC acquired a new stake in shares of Chunghwa Telecom in the 3rd quarter worth approximately $397,000. 2.11% of the stock is currently owned by hedge funds and other institutional investors.

About Chunghwa Telecom

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, domestic long distance, and international long distance fixed-line telephone services; mobile services such as prepaid and postpaid plans; broadband plans; and internet and data services.