Brokerages Set $34.00 Target Price for Chunghwa Telecom Co., Ltd (NYSE:CHT)

Shares of Chunghwa Telecom Co., Ltd (NYSE:CHT) have been given an average broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.

Brokers have set a one year consensus price target of $34.00 for the company, according to Zacks. Zacks has also given Chunghwa Telecom an industry rank of 243 out of 256 based on the ratings given to its competitors.

Chunghwa Telecom stock traded up $0.03 during midday trading on Friday, hitting $36.15. 393 shares of the stock were exchanged, compared to its average volume of 80,776. Chunghwa Telecom has a 52-week low of $34.02 and a 52-week high of $36.92. The company has a market capitalization of $28.29 billion, a PE ratio of 24.43 and a beta of 0.14. The stock’s 50-day simple moving average is $36.33. The company has a quick ratio of 1.43, a current ratio of 1.66 and a debt-to-equity ratio of 0.02.

Chunghwa Telecom (NYSE:CHT) last released its quarterly earnings results on Monday, April 29th. The utilities provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Chunghwa Telecom had a net margin of 16.58% and a return on equity of 9.24%. The business had revenue of $1.66 billion for the quarter.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC boosted its stake in shares of Chunghwa Telecom by 32.0% during the first quarter. Lindbrook Capital LLC now owns 1,305 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 316 shares during the period. Citigroup Inc. purchased a new stake in Chunghwa Telecom in the fourth quarter worth about $119,000. BNP Paribas Arbitrage SA raised its holdings in Chunghwa Telecom by 31.1% in the first quarter. BNP Paribas Arbitrage SA now owns 5,533 shares of the utilities provider’s stock worth $197,000 after purchasing an additional 1,313 shares in the last quarter. Advisor Partners LLC raised its holdings in Chunghwa Telecom by 9.5% in the first quarter. Advisor Partners LLC now owns 8,451 shares of the utilities provider’s stock worth $300,000 after purchasing an additional 735 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Chunghwa Telecom by 11.9% in the first quarter. Parallel Advisors LLC now owns 12,037 shares of the utilities provider’s stock worth $428,000 after purchasing an additional 1,276 shares in the last quarter. Hedge funds and other institutional investors own 2.35% of the company’s stock.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd. provides telecommunication services in Taiwan. It operates through Domestic Fixed Communications Business, Mobile Communications Business, Internet Business, International Fixed Communications Business, and Other Business segments. It offers local and domestic long distance telephone and leased line, broadband access, Wi-Fi, and multimedia on demand services; information and communication technology (ICT), corporate, and bill handling services; and interconnection with its fixed-line network to other mobile and fixed-line operators.

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