Chunghwa Telecom (NYSE:CHT) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $42.63 and traded as high as $42.94. Chunghwa Telecom shares last traded at $41.7860, with a volume of 913,955 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CHT. Weiss Ratings reissued a “hold (c)” rating on shares of Chunghwa Telecom in a research report on Wednesday, January 21st. Zacks Research upgraded Chunghwa Telecom to a “hold” rating in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Chunghwa Telecom Trading Down 3.0%

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.49 and a quick ratio of 1.32. The company has a market cap of $32.42 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 5.77 and a beta of 0.29. The business’s fifty day moving average price is $42.61 and its 200 day moving average price is $42.63.

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

Hedge Funds Weigh In On Chunghwa Telecom

A number of hedge funds have recently made changes to their positions in CHT. Thrivent Financial for Lutherans acquired a new position in shares of Chunghwa Telecom in the 3rd quarter worth approximately $2,737,000. American Century Companies Inc. increased its position in shares of Chunghwa Telecom by 17.6% during the second quarter. American Century Companies Inc. now owns 329,461 shares of the utilities provider’s stock worth $15,356,000 after buying an additional 49,276 shares during the period. Summit Global Investments bought a new position in Chunghwa Telecom during the second quarter worth $606,000. R Squared Ltd bought a new position in Chunghwa Telecom during the third quarter worth $1,026,000. Finally, Ethic Inc. lifted its holdings in Chunghwa Telecom by 27.9% in the third quarter. Ethic Inc. now owns 68,709 shares of the utilities provider’s stock valued at $2,997,000 after buying an additional 14,990 shares during the period. 2.11% of the stock is currently owned by institutional investors.

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.