Zacks: Chunghwa Telecom Co., Ltd (CHT) Receives Consensus Recommendation of “Hold” from Brokerages

Chunghwa Telecom Co., Ltd (NYSE:CHT) has been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Zacks has also given Chunghwa Telecom an industry rank of 61 out of 257 based on the ratings given to its competitors.

Several brokerages have recently issued reports on CHT. HSBC downgraded shares of Chunghwa Telecom from a “hold” rating to a “reduce” rating in a research report on Wednesday, October 31st. Morgan Stanley downgraded Chunghwa Telecom from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 7th.

Shares of CHT stock traded down $0.35 during trading hours on Tuesday, hitting $34.34. 56,449 shares of the company were exchanged, compared to its average volume of 75,122. Chunghwa Telecom has a 52 week low of $34.02 and a 52 week high of $39.33. The company has a market capitalization of $26.94 billion, a price-to-earnings ratio of 20.94 and a beta of 0.31.

Chunghwa Telecom (NYSE:CHT) last issued its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.36 earnings per share (EPS) for the quarter. Chunghwa Telecom had a net margin of 15.98% and a return on equity of 9.29%. The company had revenue of $1.72 billion during the quarter.

A number of hedge funds have recently added to or reduced their stakes in CHT. Tower Research Capital LLC TRC lifted its position in shares of Chunghwa Telecom by 214.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,356 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 2,288 shares during the period. Stevens Capital Management LP acquired a new stake in Chunghwa Telecom during the third quarter worth about $250,000. First Republic Investment Management Inc. grew its holdings in Chunghwa Telecom by 40.8% during the third quarter. First Republic Investment Management Inc. now owns 8,674 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 2,514 shares during the period. Dean Capital Investments Management LLC acquired a new stake in Chunghwa Telecom during the second quarter worth about $335,000. Finally, Signaturefd LLC grew its holdings in Chunghwa Telecom by 60.2% during the second quarter. Signaturefd LLC now owns 9,955 shares of the utilities provider’s stock worth $358,000 after acquiring an additional 3,740 shares during the period. 2.81% of the stock is currently owned by hedge funds and other institutional investors.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd. provides telecommunication services in Taiwan. It operates through Domestic Fixed Communications Business, Mobile Communications Business, Internet Business, International Fixed Communications Business, and Other Business segments. It offers local and domestic long distance telephone and leased line, broadband access, Wi-Fi, and multimedia on demand services; information and communication technology (ICT), corporate, and bill handling services; and interconnection with its fixed-line network to other mobile and fixed-line operators.

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