Chunghwa Telecom (NYSE:CHT) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Chunghwa Telecom (NYSE:CHT) from a hold rating to a strong sell rating in a research report report published on Wednesday,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce”.

Chunghwa Telecom Stock Down 1.0%

CHT opened at $42.38 on Wednesday. Chunghwa Telecom has a 1-year low of $39.28 and a 1-year high of $46.48. The stock’s fifty day simple moving average is $44.05 and its 200 day simple moving average is $43.16. The company has a current ratio of 1.64, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The stock has a market cap of $32.88 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.94 and a beta of 0.29.

Chunghwa Telecom (NYSE:CHT) last released its quarterly earnings data on Tuesday, March 31st. The utilities provider reported $0.41 EPS for the quarter. Chunghwa Telecom had a net margin of 16.23% and a return on equity of 9.90%. The firm had revenue of $1.88 billion during the quarter. As a group, research analysts expect that Chunghwa Telecom will post 1.53 earnings per share for the current year.

Chunghwa Telecom Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 9th will be paid a $1.6525 dividend. The ex-dividend date is Thursday, July 9th. This represents a yield of 398.0%. Chunghwa Telecom’s payout ratio is 78.05%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CHT. AQR Capital Management LLC bought a new stake in shares of Chunghwa Telecom in the first quarter valued at about $298,000. Hsbc Holdings PLC bought a new position in Chunghwa Telecom during the second quarter worth about $291,000. Marshall Wace LLP increased its position in Chunghwa Telecom by 14.2% during the second quarter. Marshall Wace LLP now owns 43,434 shares of the utilities provider’s stock worth $2,024,000 after acquiring an additional 5,400 shares during the period. Sei Investments Co. raised its stake in Chunghwa Telecom by 21.3% in the 2nd quarter. Sei Investments Co. now owns 61,030 shares of the utilities provider’s stock worth $2,844,000 after purchasing an additional 10,723 shares in the last quarter. Finally, Quantinno Capital Management LP raised its stake in Chunghwa Telecom by 142.6% in the 2nd quarter. Quantinno Capital Management LP now owns 129,440 shares of the utilities provider’s stock worth $6,033,000 after purchasing an additional 76,087 shares in the last quarter. Institutional investors 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.