Chunghwa Telecom (NYSE:CHT) Rating Lowered to “Strong Sell” at Zacks Research

Chunghwa Telecom (NYSE:CHT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chunghwa Telecom in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chunghwa Telecom presently has a consensus rating of “Reduce”.

Chunghwa Telecom Stock Down 1.0%

Shares of NYSE CHT opened at $42.38 on Wednesday. The stock has a market cap of $32.88 billion, a PE ratio of 25.84, a PEG ratio of 1.94 and a beta of 0.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 1.64. The business has a fifty day moving average of $44.05 and a two-hundred day moving average of $43.16. Chunghwa Telecom has a 52-week low of $39.28 and a 52-week high of $46.48.

Chunghwa Telecom (NYSE:CHT) last posted its quarterly earnings data on Tuesday, March 31st. The utilities provider reported $0.41 earnings per share for the quarter. The company had revenue of $1.88 billion during the quarter. Chunghwa Telecom had a net margin of 16.23% and a return on equity of 9.90%. As a group, equities research analysts expect that Chunghwa Telecom will post 1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Parallel Advisors LLC grew its position in shares of Chunghwa Telecom by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 28,243 shares of the utilities provider’s stock worth $1,193,000 after buying an additional 4,585 shares during the period. Keel Point LLC acquired a new position in Chunghwa Telecom in the first quarter valued at approximately $228,000. Glenmede Trust Co. NA bought a new position in Chunghwa Telecom in the first quarter valued at approximately $218,000. EverSource Wealth Advisors LLC boosted its stake in Chunghwa Telecom by 40.1% in the first quarter. EverSource Wealth Advisors LLC now owns 11,359 shares of the utilities provider’s stock valued at $480,000 after acquiring an additional 3,250 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Chunghwa Telecom by 41.2% during the 1st quarter. Quantinno Capital Management LP now owns 297,210 shares of the utilities provider’s stock worth $12,554,000 after acquiring an additional 86,786 shares during the period. Institutional investors own 2.11% of the company’s stock.

About Chunghwa Telecom

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.