Chunghwa Telecom (NYSE:CHT) Shares Pass Above 200 Day Moving Average – Here’s Why

Chunghwa Telecom Co., Ltd. (NYSE:CHT)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $42.39 and traded as high as $43.03. Chunghwa Telecom shares last traded at $42.8940, with a volume of 155,943 shares.

Analyst Ratings Changes

A number of equities research analysts have commented on CHT shares. Zacks Research upgraded shares of Chunghwa Telecom to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Chunghwa Telecom Trading Up 0.7%

The company has a quick ratio of 1.32, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $42.73 and a 200 day simple moving average of $42.40. The firm has a market capitalization of $33.92 billion, a P/E ratio of 27.16, a PEG ratio of 5.82 and a beta of 0.31.

Chunghwa Telecom (NYSE:CHT) last posted its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.38 EPS for the quarter. The business had revenue of $2.09 billion for the quarter. Chunghwa Telecom had a return on equity of 9.82% and a net margin of 16.37%. As a group, research analysts forecast that Chunghwa Telecom Co., Ltd. will post 1.44 EPS for the current year.

Institutional Investors Weigh In On Chunghwa Telecom

Institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its position in shares of Chunghwa Telecom by 65.9% during the third quarter. Farther Finance Advisors LLC now owns 866 shares of the utilities provider’s stock valued at $38,000 after buying an additional 344 shares during the last quarter. Smartleaf Asset Management LLC bought a new stake in shares of Chunghwa Telecom during the second quarter valued at approximately $53,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Chunghwa Telecom during the fourth quarter valued at approximately $59,000. Westside Investment Management Inc. raised its position in shares of Chunghwa Telecom by 100.0% during the third quarter. Westside Investment Management Inc. now owns 1,438 shares of the utilities provider’s stock valued at $63,000 after buying an additional 719 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of Chunghwa Telecom during the fourth quarter valued at approximately $75,000. Institutional investors own 2.11% of the company’s stock.

Chunghwa Telecom Company Profile

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.