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

Chunghwa Telecom (NYSE:CHT) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

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

Chunghwa Telecom Price Performance

Chunghwa Telecom stock opened at $42.38 on Wednesday. The stock has a market cap of $32.88 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.94 and a beta of 0.29. 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 1 year low of $39.28 and a 1 year high of $46.48. The firm has a 50-day moving average of $44.05 and a two-hundred day moving average of $43.16.

Chunghwa Telecom (NYSE:CHT) last issued its earnings results on Tuesday, March 31st. The utilities provider reported $0.41 EPS for the quarter. The business had revenue of $1.88 billion for the quarter. Chunghwa Telecom had a net margin of 16.23% and a return on equity of 9.90%. On average, research analysts forecast that Chunghwa Telecom will post 1.53 earnings per share for the current year.

Institutional Investors Weigh In On Chunghwa Telecom

A number of institutional investors have recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. AG purchased a new position in Chunghwa Telecom in the fourth quarter valued at $6,554,000. R Squared Ltd grew its position in shares of Chunghwa Telecom by 97.3% during the 1st quarter. R Squared Ltd now owns 55,164 shares of the utilities provider’s stock valued at $2,330,000 after acquiring an additional 27,200 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of Chunghwa Telecom in the 4th quarter valued at about $1,323,000. Sequoia Financial Advisors LLC increased its stake in shares of Chunghwa Telecom by 35.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 47,725 shares of the utilities provider’s stock valued at $2,016,000 after purchasing an additional 12,447 shares in the last quarter. Finally, SmartHarvest Portfolios LLC acquired a new position in Chunghwa Telecom in the 4th quarter worth about $623,000. 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.