Chunghwa Telecom (NYSE:CHT) Cut to Strong Sell at Zacks Research

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

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a research report 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. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Chunghwa Telecom Stock Up 1.0%

Shares of CHT opened at $42.77 on Wednesday. The firm has a 50 day simple moving average of $44.04 and a two-hundred day simple moving average of $43.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.64 and a quick ratio of 1.46. Chunghwa Telecom has a one year low of $39.28 and a one year high of $46.48. The company has a market cap of $33.17 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.92 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 earnings per share for the quarter. Chunghwa Telecom had a return on equity of 9.90% and a net margin of 16.23%.The firm had revenue of $1.88 billion for the quarter. Research analysts forecast that Chunghwa Telecom will post 1.53 EPS for the current fiscal year.

Chunghwa Telecom Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 9th will be given a $1.6525 dividend. The ex-dividend date is Thursday, July 9th. This represents a yield of 398.0%. Chunghwa Telecom’s dividend payout ratio (DPR) is currently 78.66%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. B. Metzler seel. Sohn & Co. AG bought a new position in shares of Chunghwa Telecom in the 4th quarter valued at $6,554,000. Goldman Sachs Group Inc. grew its position in Chunghwa Telecom by 67.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 368,306 shares of the utilities provider’s stock worth $15,362,000 after acquiring an additional 148,378 shares during the last quarter. Quantinno Capital Management LP grew its position in Chunghwa Telecom by 41.2% during the 1st quarter. Quantinno Capital Management LP now owns 297,210 shares of the utilities provider’s stock worth $12,554,000 after acquiring an additional 86,786 shares during the last quarter. First Trust Advisors LP increased its holdings in Chunghwa Telecom by 342.2% in the 3rd quarter. First Trust Advisors LP now owns 98,929 shares of the utilities provider’s stock worth $4,315,000 after purchasing an additional 76,558 shares in the last quarter. Finally, Creative Planning increased its holdings in Chunghwa Telecom by 20.0% in the 3rd quarter. Creative Planning now owns 380,892 shares of the utilities provider’s stock worth $16,615,000 after purchasing an additional 63,523 shares in the last quarter. 2.11% of the stock is currently owned by institutional investors and hedge funds.

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.