Chunghwa Telecom (NYSE:CHT) Stock Price Passes Above 200 Day Moving Average – What’s Next?
by Danessa Lincoln · The Markets DailyChunghwa Telecom Co., Ltd. (NYSE:CHT – Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $43.39 and traded as high as $45.55. Chunghwa Telecom shares last traded at $45.3950, with a volume of 342,996 shares changing hands.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Zacks Research downgraded shares of Chunghwa Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.
View Our Latest Report on Chunghwa Telecom
Chunghwa Telecom Stock Performance
The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.07 and a current ratio of 1.22. The stock has a market cap of $35.47 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.05 and a beta of 0.29. The company’s 50 day simple moving average is $42.99 and its 200 day simple moving average is $43.41.
Chunghwa Telecom (NYSE:CHT – Get Free Report) last released its earnings results on Tuesday, June 30th. The utilities provider reported $0.43 EPS for the quarter. The company had revenue of $1.93 billion for the quarter. Chunghwa Telecom had a return on equity of 10.00% and a net margin of 16.11%. Analysts expect that Chunghwa Telecom Co., Ltd. will post 1.53 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Cornerstone Financial Management LLC boosted its position in Chunghwa Telecom by 153.7% during the second quarter. Cornerstone Financial Management LLC now owns 728 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 441 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Chunghwa Telecom in the second quarter valued at approximately $102,000. Global Retirement Partners LLC bought a new position in Chunghwa Telecom in the 4th quarter valued at $209,000. Keybank National Association OH purchased a new stake in shares of Chunghwa Telecom in the first quarter worth $218,000. Finally, Glenmede Trust Co. NA bought a new position in Chunghwa Telecom in the 1st quarter worth about $218,000. Hedge funds and other institutional investors own 2.11% of the company’s stock.
About Chunghwa Telecom
Chunghwa Telecom Co, Ltd. is Taiwan’s largest integrated telecommunications provider and the issuer of American depositary shares traded on the New York Stock Exchange under the symbol CHT. The company provides fixed-line voice services, mobile communications, broadband internet access and related telecommunications services to residential, business and government customers.
Its consumer offerings also include multimedia and digital entertainment services, such as its MOD television platform, while its enterprise business provides information and communications technology solutions, cloud services, data-center operations, cybersecurity, managed networks and other digital services.