Chunghwa Telecom (NYSE:CHT) Reaches New 52-Week High – Time to Buy?

Chunghwa Telecom Co., Ltd. (NYSE:CHT) shares reached a new 52-week high on Friday. The stock traded as high as $50.36 and last traded at $50.1150, with a volume of 3,492 shares. The stock had previously closed at $49.09.

Analyst Ratings Changes

Several research analysts have weighed in on CHT shares. Zacks Research upgraded shares of Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a report on Thursday, September 17th. Weiss Ratings upgraded shares of Chunghwa Telecom from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 30th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Chunghwa Telecom Trading Up 1.7%

The stock has a market capitalization of $38.71 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 2.18 and a beta of 0.26. The company has a current ratio of 1.36, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $46.93 and a 200-day moving average price of $44.12.

Chunghwa Telecom (NYSE:CHT) last released its earnings results on Monday, October 12th. The utilities provider reported $0.49 earnings per share for the quarter. Chunghwa Telecom had a net margin of 16.58% and a return on equity of 10.67%. The firm had revenue of $2.12 billion for the quarter. As a group, equities analysts forecast that Chunghwa Telecom Co., Ltd. will post 1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Chunghwa Telecom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Chunghwa Telecom in the 3rd quarter worth approximately $1,687,000. Nykredit A S purchased a new position in shares of Chunghwa Telecom during the second quarter valued at approximately $2,075,000. Renaissance Technologies LLC increased its stake in shares of Chunghwa Telecom by 1.3% during the first quarter. Renaissance Technologies LLC now owns 2,765,296 shares of the utilities provider’s stock valued at $116,806,000 after buying an additional 36,820 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Chunghwa Telecom by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 548,080 shares of the utilities provider’s stock valued at $23,145,000 after buying an additional 31,280 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in shares of Chunghwa Telecom by 41.2% during the first quarter. Quantinno Capital Management LP now owns 297,210 shares of the utilities provider’s stock valued at $12,554,000 after acquiring an additional 86,786 shares in the last quarter. 2.11% of the stock is currently owned by institutional investors.

About Chunghwa Telecom

Chunghwa Telecom is Taiwan’s largest integrated telecommunications provider. The company offers fixed-line and mobile voice services, broadband internet access, and data communications to consumers, businesses, and government customers. Its business also includes information and communications technology services such as cloud computing, cybersecurity, data-center services, and enterprise networking. Chunghwa Telecom serves customers primarily in Taiwan and provides international telecommunications services through its global network and partnerships.