Chunghwa Telecom (CHT) Rating Increased to Hold at Zacks Investment Research

Chunghwa Telecom (NYSE:CHT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Chunghwa Telecom posted strong fourth-quarter 2017 financial results. The company continues to dominate the Taiwanese telecom market with its presence in 80% of the broadband market and 35% of the wireless market. Chunghwa is expanding its fiber-based high-speed next-generation FTTx (fiber to the home/building) offerings. Chunghwa also offers large-scale fiber-to-the-home (FTTH) and fiber-to-the-building (FTTB) access infrastructure to 75% of Taiwan’s population. Over the past three months, the stock price grew 7.6% as against the industry's loss of 1.3%. On the flip side, Chunghwa Telecom’s operation in an oversaturated and competitive Taiwanese telecom market, followed by telecom regulatory changes raises concern.”

Shares of Chunghwa Telecom (NYSE CHT) traded up $0.21 on Tuesday, hitting $36.64. The stock had a trading volume of 68,360 shares, compared to its average volume of 117,484. The stock has a market cap of $28,780.14, a PE ratio of 22.15, a PEG ratio of 4.17 and a beta of 0.35. Chunghwa Telecom has a fifty-two week low of $31.93 and a fifty-two week high of $37.53.

Chunghwa Telecom (NYSE:CHT) last announced its quarterly earnings data on Wednesday, January 31st. The utilities provider reported $0.37 earnings per share (EPS) for the quarter. The business had revenue of $2.02 billion during the quarter. Chunghwa Telecom had a return on equity of 10.63% and a net margin of 17.08%. equities analysts forecast that Chunghwa Telecom will post 1.69 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of CHT. Royal Bank of Canada lifted its stake in Chunghwa Telecom by 137.7% in the second quarter. Royal Bank of Canada now owns 3,705 shares of the utilities provider’s stock valued at $131,000 after buying an additional 2,146 shares during the last quarter. FDx Advisors Inc. acquired a new stake in Chunghwa Telecom in the third quarter valued at $239,000. BNP Paribas Arbitrage SA lifted its position in shares of Chunghwa Telecom by 34.0% in the third quarter. BNP Paribas Arbitrage SA now owns 8,386 shares of the utilities provider’s stock valued at $286,000 after acquiring an additional 2,128 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Chunghwa Telecom in the third quarter valued at $427,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Chunghwa Telecom by 9.2% in the second quarter. Ameriprise Financial Inc. now owns 12,847 shares of the utilities provider’s stock valued at $452,000 after acquiring an additional 1,078 shares in the last quarter. Hedge funds and other institutional investors own 3.08% of the company’s stock.

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Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd. provides telecommunication services. The Company’s segments include Domestic fixed communications business, which is engaged in the provision of local telephone services, domestic long distance telephone services, broadband access and related services; Mobile communications business, which is engaged in the provision of mobile services, sales of mobile handsets and data cards, and related services; Internet business, which is engaged in the provision of HiNet services and related services; International fixed communications business, which includes international long distance telephone services, international leased line services, international data services, satellite services, and information and communication technology (ICT) and other international services, and Others, which is engaged in the provision of non-telecom services.

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