StockNews.com Downgrades Chunghwa Telecom (NYSE:CHT) to Hold

Chunghwa Telecom (NYSE:CHT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Chunghwa Telecom Trading Down 1.2 %

Shares of CHT stock traded down $0.46 during mid-day trading on Tuesday, reaching $38.79. The stock had a trading volume of 164,622 shares, compared to its average volume of 104,148. The firm has a market capitalization of $30.09 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 21.42 and a beta of 0.20. The stock’s 50-day moving average price is $38.16 and its two-hundred day moving average price is $38.32. The company has a current ratio of 1.47, a quick ratio of 1.29 and a debt-to-equity ratio of 0.06. Chunghwa Telecom has a 52-week low of $35.92 and a 52-week high of $40.62.

Chunghwa Telecom (NYSE:CHT) last announced its quarterly 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 9.53% and a net margin of 16.18%. Equities analysts expect that Chunghwa Telecom will post 1.44 earnings per share for the current fiscal year.

Institutional Trading of Chunghwa Telecom

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in Chunghwa Telecom by 27.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 27,887 shares of the utilities provider’s stock worth $1,106,000 after purchasing an additional 6,087 shares in the last quarter. Allworth Financial LP increased its position in shares of Chunghwa Telecom by 40.5% during the third quarter. Allworth Financial LP now owns 919 shares of the utilities provider’s stock valued at $36,000 after buying an additional 265 shares during the period. BSW Wealth Partners bought a new position in Chunghwa Telecom in the third quarter worth about $208,000. Crossmark Global Holdings Inc. lifted its holdings in Chunghwa Telecom by 12.9% in the third quarter. Crossmark Global Holdings Inc. now owns 101,894 shares of the utilities provider’s stock worth $4,042,000 after buying an additional 11,663 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its position in Chunghwa Telecom by 6.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,964 shares of the utilities provider’s stock valued at $316,000 after acquiring an additional 468 shares in the last quarter. Institutional investors own 2.11% of the company’s stock.

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.