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

Shares of Chunghwa Telecom Co., Ltd (NYSE:CHT) have received a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Brokerages have set a one year consensus target price of $34.00 for the company, according to Zacks. Zacks has also assigned Chunghwa Telecom an industry rank of 191 out of 256 based on the ratings given to its competitors.

Several hedge funds and other institutional investors have recently modified their holdings of CHT. Deutsche Bank AG boosted its position in shares of Chunghwa Telecom by 0.3% during the 4th quarter. Deutsche Bank AG now owns 3,798,703 shares of the utilities provider’s stock worth $135,954,000 after acquiring an additional 12,359 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Chunghwa Telecom by 1.0% during the 1st quarter. Renaissance Technologies LLC now owns 3,272,046 shares of the utilities provider’s stock worth $116,321,000 after purchasing an additional 31,354 shares during the period. Northern Trust Corp raised its position in shares of Chunghwa Telecom by 19.2% in the 1st quarter. Northern Trust Corp now owns 1,602,769 shares of the utilities provider’s stock worth $56,978,000 after buying an additional 257,661 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Chunghwa Telecom by 10.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 756,329 shares of the utilities provider’s stock worth $26,887,000 after buying an additional 68,821 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Chunghwa Telecom by 11.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 476,331 shares of the utilities provider’s stock valued at $16,934,000 after purchasing an additional 49,396 shares during the period. 2.35% of the stock is owned by institutional investors and hedge funds.

Chunghwa Telecom stock opened at $36.41 on Friday. The stock has a market cap of $28.24 billion, a price-to-earnings ratio of 24.60 and a beta of 0.13. 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 has a 52-week low of $34.02 and a 52-week high of $36.85.

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, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Chunghwa Telecom had a return on equity of 9.24% and a net margin of 16.58%. The company had revenue of $1.66 billion for the quarter.

About Chunghwa Telecom

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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