Chunghwa Telecom (NYSE:CHT) Upgraded by StockNews.com to Buy Rating

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

Chunghwa Telecom Price Performance

Shares of NYSE CHT opened at $38.89 on Monday. The stock has a market capitalization of $30.17 billion, a PE ratio of 26.10, a P/E/G ratio of 21.42 and a beta of 0.19. Chunghwa Telecom has a fifty-two week low of $35.92 and a fifty-two week high of $40.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.47 and a quick ratio of 1.29. The business has a fifty day moving average price of $38.58 and a two-hundred day moving average price of $38.40.

Chunghwa Telecom (NYSE:CHT) last announced its quarterly earnings data on Thursday, January 23rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter. Chunghwa Telecom had a net margin of 16.18% and a return on equity of 9.53%. As a group, equities analysts predict that Chunghwa Telecom will post 1.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chunghwa Telecom

A number of hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. raised its position in Chunghwa Telecom by 120.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 915,853 shares of the utilities provider’s stock worth $36,332,000 after purchasing an additional 500,475 shares during the last quarter. Barclays PLC bought a new stake in Chunghwa Telecom in the third quarter valued at approximately $397,000. Ballentine Partners LLC increased its position in Chunghwa Telecom by 66.8% during the 4th quarter. Ballentine Partners LLC now owns 42,383 shares of the utilities provider’s stock valued at $1,596,000 after purchasing an additional 16,977 shares during the period. US Bancorp DE lifted its position in shares of Chunghwa Telecom by 15.3% in the 4th quarter. US Bancorp DE now owns 33,206 shares of the utilities provider’s stock worth $1,250,000 after purchasing an additional 4,416 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Chunghwa Telecom by 35.8% during the fourth quarter. Blue Trust Inc. now owns 50,088 shares of the utilities provider’s stock worth $1,987,000 after buying an additional 13,195 shares during the period. Institutional investors and hedge funds own 2.11% of the company’s stock.

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, 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.