Chunghwa Telecom (NYSE:CHT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Chunghwa Telecom posted strong fourth-quarter 2017 financial results. The company continues to dominate the Taiwanese telecom market with its presence in 80% of the broadband market and 35% of the wireless market. Chunghwa is expanding its fiber-based high-speed next-generation FTTx (fiber to the home/building) offerings. Chunghwa also offers large-scale fiber-to-the-home (FTTH) and fiber-to-the-building (FTTB) access infrastructure to 75% of Taiwan’s population. Over the past three months, the stock price grew 7.6% as against the industry's loss of 1.3%. On the flip side, Chunghwa Telecom’s operation in an oversaturated and competitive Taiwanese telecom market, followed by telecom regulatory changes raises concern.”

Chunghwa Telecom (NYSE:CHT) opened at $36.64 on Tuesday. The company has a market capitalization of $28,260.39, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 4.10 and a beta of 0.35. Chunghwa Telecom has a 12-month low of $31.93 and a 12-month high of $37.53.

Chunghwa Telecom (NYSE:CHT) last issued its earnings results on Wednesday, January 31st. The utilities provider reported $0.37 earnings per share for the quarter. Chunghwa Telecom had a return on equity of 10.63% and a net margin of 17.08%. The business had revenue of $2.02 billion during the quarter. equities analysts predict that Chunghwa Telecom will post 1.69 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Augustine Asset Management Inc. lifted its holdings in shares of Chunghwa Telecom by 143.2% in the 3rd quarter. Augustine Asset Management Inc. now owns 37,725 shares of the utilities provider’s stock worth $1,286,000 after buying an additional 22,211 shares during the period. OxFORD Asset Management LLP lifted its holdings in shares of Chunghwa Telecom by 164.2% in the 3rd quarter. OxFORD Asset Management LLP now owns 39,479 shares of the utilities provider’s stock worth $1,347,000 after buying an additional 24,536 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Chunghwa Telecom by 4.3% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 466,828 shares of the utilities provider’s stock worth $15,924,000 after buying an additional 19,208 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Chunghwa Telecom by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 891,713 shares of the utilities provider’s stock worth $30,399,000 after buying an additional 10,402 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Chunghwa Telecom by 7.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 387,957 shares of the utilities provider’s stock worth $13,234,000 after buying an additional 26,568 shares during the period. Institutional investors and hedge funds own 3.08% of the company’s stock.

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About Chunghwa Telecom

Chunghwa Telecom Co, Ltd. provides telecommunication services. The Company’s segments include Domestic fixed communications business, which is engaged in the provision of local telephone services, domestic long distance telephone services, broadband access and related services; Mobile communications business, which is engaged in the provision of mobile services, sales of mobile handsets and data cards, and related services; Internet business, which is engaged in the provision of HiNet services and related services; International fixed communications business, which includes international long distance telephone services, international leased line services, international data services, satellite services, and information and communication technology (ICT) and other international services, and Others, which is engaged in the provision of non-telecom services.

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