Chunghwa Telecom (NYSE:CHT) Releases Quarterly Earnings Results, Hits Estimates

Chunghwa Telecom (NYSE:CHT) released its earnings results on Thursday. The utilities provider reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41, Zacks reports. Chunghwa Telecom had a net margin of 16.27% and a return on equity of 9.72%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.93 billion.

Chunghwa Telecom Stock Performance

Shares of Chunghwa Telecom stock traded up $0.44 during trading on Friday, hitting $42.33. 165,345 shares of the company’s stock were exchanged, compared to its average volume of 129,215. The stock has a market capitalization of $32.83 billion, a price-to-earnings ratio of 27.66 and a beta of 0.28. The business has a 50-day simple moving average of $43.53 and a 200-day simple moving average of $43.90. Chunghwa Telecom has a 52-week low of $36.61 and a 52-week high of $47.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.15.

Hedge Funds Weigh In On Chunghwa Telecom

A number of institutional investors have recently modified their holdings of the stock. MML Investors Services LLC boosted its stake in shares of Chunghwa Telecom by 5.7% in the second quarter. MML Investors Services LLC now owns 11,615 shares of the utilities provider’s stock worth $541,000 after buying an additional 630 shares during the last quarter. Smartleaf Asset Management LLC purchased a new stake in Chunghwa Telecom in the 2nd quarter worth approximately $53,000. Osaic Holdings Inc. grew its stake in shares of Chunghwa Telecom by 664.1% during the 2nd quarter. Osaic Holdings Inc. now owns 4,195 shares of the utilities provider’s stock worth $195,000 after purchasing an additional 3,646 shares during the period. Marshall Wace LLP increased its holdings in shares of Chunghwa Telecom by 14.2% during the 2nd quarter. Marshall Wace LLP now owns 43,434 shares of the utilities provider’s stock valued at $2,024,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Chunghwa Telecom in the 2nd quarter valued at $291,000. Hedge funds and other institutional investors own 2.11% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Chunghwa Telecom in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Chunghwa Telecom Company Profile

Chunghwa Telecom Co, Ltd., together with its subsidiaries, provides telecommunication services in Taiwan and internationally. It operates through Consumer Business, Enterprise Business, International Business, and Others segments. The company offers local, domestic long distance, and international long distance fixed-line telephone services; mobile services such as prepaid and postpaid plans; broadband plans; and internet and data services.