StockNews.com Upgrades Chunghwa Telecom (NYSE:CHT) to “Buy”

StockNews.com upgraded shares of Chunghwa Telecom (NYSE:CHT) from a hold rating to a buy rating in a report issued on Friday.

Chunghwa Telecom Stock Performance

Shares of CHT stock opened at $36.70 on Friday. The stock has a market capitalization of $28.47 billion, a P/E ratio of 23.23 and a beta of 0.11. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $36.69 and its 200 day moving average is $38.79. Chunghwa Telecom has a 12 month low of $32.90 and a 12 month high of $41.58.

Chunghwa Telecom (NYSE:CHT) last announced its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.42 EPS for the quarter. The company had revenue of $1.74 billion for the quarter. Chunghwa Telecom had a net margin of 16.94% and a return on equity of 9.58%.

Institutional Trading of Chunghwa Telecom

Several institutional investors and hedge funds have recently bought and sold shares of CHT. JPMorgan Chase & Co. lifted its stake in Chunghwa Telecom by 21.0% in the 1st quarter. JPMorgan Chase & Co. now owns 94,112 shares of the utilities provider’s stock worth $4,184,000 after purchasing an additional 16,332 shares in the last quarter. American Century Companies Inc. lifted its stake in Chunghwa Telecom by 26.2% in the 1st quarter. American Century Companies Inc. now owns 54,968 shares of the utilities provider’s stock worth $2,443,000 after purchasing an additional 11,399 shares in the last quarter. HighTower Advisors LLC lifted its stake in Chunghwa Telecom by 5.0% in the 1st quarter. HighTower Advisors LLC now owns 6,665 shares of the utilities provider’s stock worth $296,000 after purchasing an additional 317 shares in the last quarter. Bank of Montreal Can lifted its stake in Chunghwa Telecom by 1.9% in the 1st quarter. Bank of Montreal Can now owns 21,093 shares of the utilities provider’s stock worth $943,000 after purchasing an additional 394 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Chunghwa Telecom by 4.5% in the 1st quarter. BlackRock Inc. now owns 2,776,762 shares of the utilities provider’s stock worth $123,426,000 after purchasing an additional 120,199 shares in the last quarter. 2.16% of the stock is currently owned by hedge funds and other institutional investors.

About Chunghwa Telecom

Chunghwa Telecom Co, Ltd., together with its subsidiaries, provides telecommunication services in Taiwan and internationally. It operates through Consumer Business, Enterprise Business, International Business, and Others segments. The company offers local long distance services comprising of local calls, cloud switchboard, and value-added local calls.