Chunghwa Telecom (NYSE:CHT) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $43.81 and traded as high as $46.47. Chunghwa Telecom shares last traded at $46.1040, with a volume of 239,382 shares trading hands.

Wall Street Analyst Weigh In

CHT has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Chunghwa Telecom in a report on Friday, July 17th. Zacks Research raised Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 17th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat, the stock has an average rating of “Hold”.

Chunghwa Telecom Stock Up 2.4%

The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $36.95 billion, a PE ratio of 28.87, a PEG ratio of 2.05 and a beta of 0.27. The company’s 50 day moving average is $44.55 and its two-hundred day moving average is $43.88.

Chunghwa Telecom (NYSE:CHT) last announced its quarterly earnings results on Thursday, September 10th. The utilities provider reported $0.49 EPS for the quarter. Chunghwa Telecom had a net margin of 16.11% and a return on equity of 10.00%. The business had revenue of $2.12 billion for the quarter. On average, analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.56 earnings per share for the current year.

Institutional Investors Weigh In On Chunghwa Telecom

A number of hedge funds have recently made changes to their positions in the company. Nykredit A S bought a new position in Chunghwa Telecom during the second quarter valued at $2,075,000. Renaissance Technologies LLC increased its holdings in shares of Chunghwa Telecom by 1.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,765,296 shares of the utilities provider’s stock worth $116,806,000 after buying an additional 36,820 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Chunghwa Telecom by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 548,080 shares of the utilities provider’s stock worth $23,145,000 after buying an additional 31,280 shares during the last quarter. R Squared Ltd increased its holdings in shares of Chunghwa Telecom by 97.3% in the 1st quarter. R Squared Ltd now owns 55,164 shares of the utilities provider’s stock worth $2,330,000 after buying an additional 27,200 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Chunghwa Telecom by 41.2% during the 1st quarter. Quantinno Capital Management LP now owns 297,210 shares of the utilities provider’s stock valued at $12,554,000 after buying an additional 86,786 shares in the last quarter. 2.11% of the stock is currently owned by hedge funds and other institutional investors.

About Chunghwa Telecom

Chunghwa Telecom Co, Ltd. is Taiwan’s largest integrated telecommunications provider and the country’s former state-owned incumbent carrier. The company was established in 1996 following the corporatization of Taiwan’s Directorate General of Telecommunications and is headquartered in Taipei. Its American depositary shares trade on the New York Stock Exchange under the symbol CHT.

Chunghwa Telecom provides fixed-line telephone services, mobile communications, broadband internet access, and related digital connectivity products.