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

Chunghwa Telecom Co., Ltd. (NYSE:CHT) reached a new 52-week high during trading on Tuesday. The stock traded as high as $47.84 and last traded at $47.67, with a volume of 131,845 shares traded. The stock had previously closed at $47.64.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Chunghwa Telecom in a research note on Thursday. Zacks Research upgraded Chunghwa Telecom from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 17th. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, Chunghwa Telecom presently has a consensus rating of “Hold”.

Chunghwa Telecom Price Performance

The company has a market capitalization of $36.98 billion, a P/E ratio of 28.87, a P/E/G ratio of 2.11 and a beta of 0.27. The business’s 50-day simple moving average is $44.76 and its 200 day simple moving average is $43.96. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.06.

Chunghwa Telecom (NYSE:CHT) last issued its quarterly earnings results on Monday, October 12th. The utilities provider reported $0.49 earnings per share for the quarter. The company had revenue of $2.12 billion during the quarter. Chunghwa Telecom had a net margin of 16.11% and a return on equity of 10.00%. As a group, sell-side analysts anticipate that Chunghwa Telecom Co., Ltd. will post 1.56 EPS for the current year.

Institutional Investors Weigh In On Chunghwa Telecom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC boosted its position in shares of Chunghwa Telecom by 153.7% during the 2nd quarter. Cornerstone Financial Management LLC now owns 728 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 441 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Chunghwa Telecom in the 2nd quarter worth approximately $102,000. Allworth Financial LP grew its stake in shares of Chunghwa Telecom by 27.0% in the 2nd quarter. Allworth Financial LP now owns 4,962 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 1,054 shares during the last quarter. Angeles Wealth Management LLC acquired a new position in shares of Chunghwa Telecom in the 2nd quarter worth approximately $221,000. Finally, Keybank National Association OH acquired a new position in shares of Chunghwa Telecom in the 1st quarter worth approximately $218,000. Institutional investors own 2.11% of the company’s stock.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd. is Taiwan’s largest integrated telecommunications provider and the country’s former state-owned telecommunications operator. The company was established in 1996 following the corporatization of Taiwan’s Directorate General of Telecommunications and was subsequently privatized. Chunghwa Telecom is headquartered in New Taipei City, Taiwan.

The company provides fixed-line voice services, mobile communications, broadband internet access, and related digital communications products.