Chunghwa Telecom (NYSE:CHT) Reaches New 12-Month High – Should You Buy?

Shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) reached a new 52-week high on Wednesday. The company traded as high as $49.27 and last traded at $49.06, with a volume of 8,092 shares trading hands. The stock had previously closed at $48.63.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CHT. Weiss Ratings upgraded Chunghwa Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Zacks Research raised Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a report on Thursday, September 17th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat, the company currently has an average rating of “Hold”.

Chunghwa Telecom Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.07 and a current ratio of 1.22. The firm has a market capitalization of $38.15 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.17 and a beta of 0.26. The business has a fifty day moving average of $45.98 and a two-hundred day moving average of $43.86.

Chunghwa Telecom (NYSE:CHT) last posted its quarterly earnings results on Monday, October 12th. The utilities provider reported $0.49 earnings per share for the quarter. Chunghwa Telecom had a return on equity of 10.00% and a net margin of 16.11%. The business had revenue of $2.12 billion for the quarter. As a group, research analysts predict that Chunghwa Telecom Co., Ltd. will post 1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Chunghwa Telecom

Several institutional investors and hedge funds have recently modified their holdings of CHT. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chunghwa Telecom during the 3rd quarter worth about $210,000. Commonwealth Equity Services LLC bought a new stake in shares of Chunghwa Telecom during the 3rd quarter worth about $211,000. Trek Financial LLC bought a new stake in shares of Chunghwa Telecom during the 3rd quarter worth about $268,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Chunghwa Telecom during the 3rd quarter worth about $1,687,000. Finally, Vise Technologies Inc. boosted its holdings in shares of Chunghwa Telecom by 12.6% during the 3rd quarter. Vise Technologies Inc. now owns 11,987 shares of the utilities provider’s stock worth $545,000 after buying an additional 1,342 shares during the period. 2.11% of the stock is currently owned by institutional investors and hedge funds.

About Chunghwa Telecom

Chunghwa Telecom Co, Ltd. is Taiwan’s largest integrated telecommunications provider and the country’s former state-owned telecommunications operator. The company was established in 1996 following the corporatization of Taiwan’s Directorate General of Telecommunications and was subsequently privatized. Chunghwa Telecom is headquartered in New Taipei City, Taiwan.

The company provides fixed-line voice services, mobile communications, broadband internet access, and related digital communications products.