Chunghwa Telecom (NYSE:CHT) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Chunghwa Telecom Co., Ltd. (NYSE:CHT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $42.63 and traded as high as $42.94. Chunghwa Telecom shares last traded at $41.7860, with a volume of 913,955 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Zacks Research raised Chunghwa Telecom to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chunghwa Telecom in a research note on Wednesday, January 21st. 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 Price Performance

The firm has a market cap of $32.42 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 5.77 and a beta of 0.29. The company’s fifty day moving average is $42.61 and its 200 day moving average is $42.63. The company has a quick ratio of 1.32, a current ratio of 1.49 and a debt-to-equity ratio of 0.06.

Chunghwa Telecom (NYSE:CHT) last issued its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter. Chunghwa Telecom had a net margin of 16.37% and a return on equity of 9.82%. The firm had revenue of $2.09 billion for the quarter. On average, equities research analysts predict that Chunghwa Telecom Co., Ltd. will post 1.44 EPS for the current year.

Institutional Trading of Chunghwa Telecom

Institutional investors and hedge funds have recently bought and sold shares of the stock. Evergreen Capital Management LLC raised its holdings in shares of Chunghwa Telecom by 1.7% in the 3rd quarter. Evergreen Capital Management LLC now owns 14,822 shares of the utilities provider’s stock valued at $647,000 after purchasing an additional 245 shares during the period. Compound Planning Inc. lifted its position in shares of Chunghwa Telecom by 2.6% in the third quarter. Compound Planning Inc. now owns 9,802 shares of the utilities provider’s stock valued at $428,000 after buying an additional 251 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Chunghwa Telecom by 65.9% in the third quarter. Farther Finance Advisors LLC now owns 866 shares of the utilities provider’s stock valued at $38,000 after buying an additional 344 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Chunghwa Telecom by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 5,099 shares of the utilities provider’s stock worth $213,000 after acquiring an additional 365 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Chunghwa Telecom by 1.3% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 32,076 shares of the utilities provider’s stock worth $1,399,000 after acquiring an additional 425 shares during the last quarter. Institutional investors own 2.11% of the company’s stock.

Chunghwa Telecom Company Profile

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.