Chunghwa Telecom (NYSE:CHT) Trading Down 4.5% – What’s Next?

Chunghwa Telecom Co., Ltd. (NYSE:CHT) dropped 4.5% during mid-day trading on Thursday . The stock traded as low as $41.55 and last traded at $41.5950. 4,135 shares changed hands during trading, a decline of 98% from the average daily volume of 178,660 shares. The stock had previously closed at $43.54.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CHT. Zacks Research upgraded Chunghwa Telecom to a “hold” rating in a report on Tuesday, June 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a research note on Monday, April 20th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Chunghwa Telecom has a consensus rating of “Hold”.

Chunghwa Telecom Trading Down 4.7%

The company has a quick ratio of 1.46, a current ratio of 1.64 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $44.33 and its two-hundred day moving average is $43.12. The stock has a market cap of $32.20 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 1.93 and a beta of 0.29.

Chunghwa Telecom (NYSE:CHT) last issued its earnings results on Tuesday, March 31st. The utilities provider reported $0.41 EPS for the quarter. The company had revenue of $1.88 billion during the quarter. Chunghwa Telecom had a return on equity of 9.90% and a net margin of 16.23%. Equities analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.57 EPS for the current year.

Chunghwa Telecom Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 9th will be paid a dividend of $1.6525 per share. This represents a yield of 398.0%. The ex-dividend date is Thursday, July 9th. Chunghwa Telecom’s dividend payout ratio is presently 79.27%.

Hedge Funds Weigh In On Chunghwa Telecom

Several hedge funds and other institutional investors have recently modified their holdings of CHT. Bessemer Group Inc. grew its position in shares of Chunghwa Telecom by 2.9% during the first quarter. Bessemer Group Inc. now owns 11,803 shares of the utilities provider’s stock worth $499,000 after acquiring an additional 333 shares during the last quarter. Geode Capital Management LLC boosted its stake in Chunghwa Telecom by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 5,099 shares of the utilities provider’s stock valued at $213,000 after purchasing an additional 365 shares during the period. Bridgewater Advisors Inc. grew its position in Chunghwa Telecom by 4.3% in the 1st quarter. Bridgewater Advisors Inc. now owns 10,081 shares of the utilities provider’s stock worth $439,000 after purchasing an additional 416 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its stake in shares of Chunghwa Telecom by 1.3% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 32,076 shares of the utilities provider’s stock valued at $1,399,000 after purchasing an additional 425 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of Chunghwa Telecom by 1.4% in the third quarter. Natixis Advisors LLC now owns 39,646 shares of the utilities provider’s stock valued at $1,729,000 after purchasing an additional 548 shares during the period. Institutional investors and hedge funds own 2.11% of the company’s stock.

About Chunghwa Telecom

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.