Chunghwa Telecom (NYSE:CHT) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Chunghwa Telecom (NYSE:CHT) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Chunghwa Telecom Trading Down 0.1 %

Shares of Chunghwa Telecom stock opened at $39.13 on Friday. The stock has a market capitalization of $30.36 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 21.42 and a beta of 0.19. Chunghwa Telecom has a 52 week low of $35.92 and a 52 week high of $40.62. The stock has a 50 day moving average price of $38.36 and a two-hundred day moving average price of $38.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.29 and a current ratio of 1.47.

Chunghwa Telecom (NYSE:CHT) last posted its quarterly earnings results on Thursday, January 23rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter. Chunghwa Telecom had a net margin of 16.18% and a return on equity of 9.53%. As a group, equities analysts anticipate that Chunghwa Telecom will post 1.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chunghwa Telecom

Several large investors have recently added to or reduced their stakes in CHT. Northern Trust Corp raised its stake in shares of Chunghwa Telecom by 420.8% in the fourth quarter. Northern Trust Corp now owns 676,302 shares of the utilities provider’s stock worth $25,463,000 after purchasing an additional 546,436 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Chunghwa Telecom by 120.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 915,853 shares of the utilities provider’s stock valued at $36,332,000 after buying an additional 500,475 shares during the last quarter. Mondrian Investment Partners LTD lifted its stake in Chunghwa Telecom by 101.4% during the 4th quarter. Mondrian Investment Partners LTD now owns 236,641 shares of the utilities provider’s stock valued at $9,191,000 after acquiring an additional 119,143 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Chunghwa Telecom during the 3rd quarter worth $4,095,000. Finally, Vident Advisory LLC boosted its holdings in Chunghwa Telecom by 80.9% during the 4th quarter. Vident Advisory LLC now owns 138,978 shares of the utilities provider’s stock worth $5,233,000 after acquiring an additional 62,147 shares during the last quarter. Institutional investors own 2.11% of the company’s stock.

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, domestic long distance, and international long distance fixed-line telephone services; mobile services such as prepaid and postpaid plans; broadband plans; and internet and data services.