Zacks Investment Research Lowers PLDT Inc. (NYSE:PHI) to Sell

Zacks Investment Research cut shares of PLDT Inc. (NYSE:PHI) from a hold rating to a sell rating in a research report released on Tuesday, October 24th.

According to Zacks, “PLDT Inc. offers telecommunications services. Its operating segment consists of Wireless, Fixed Line and Others. Wireless segment provides cellular, wireless broadband and other services, and digital platforms and mobile financial services. Fixed Line segment provides local exchange, international long distance, national long distance, data and other network and miscellaneous services. It offers postpaid and prepaid fixed line services. PLDT, Inc., formerly known as Philippine Long Distance Telephone Company, is based in Makati City, the Philippines. “



A number of other equities analysts also recently weighed in on the stock. Deutsche Bank AG downgraded shares of PLDT from a buy rating to a hold rating in a research note on Monday, July 17th. BidaskClub downgraded shares of PLDT from a sell rating to a strong sell rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. PLDT presently has a consensus rating of Hold.

PLDT (PHI) opened at C$34.13 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.57 and a current ratio of 0.60. The firm has a market cap of $7,373.99, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 0.93 and a beta of 0.99. PLDT has a one year low of C$25.50 and a one year high of C$38.54.

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Hedge funds have recently modified their holdings of the company. Comerica Bank grew its holdings in PLDT by 1.3% during the 1st quarter. Comerica Bank now owns 12,468 shares of the company’s stock valued at $441,000 after purchasing an additional 161 shares in the last quarter. UBS Group AG grew its holdings in PLDT by 0.6% during the 1st quarter. UBS Group AG now owns 26,047 shares of the company’s stock valued at $837,000 after purchasing an additional 166 shares in the last quarter. Citigroup Inc. grew its holdings in PLDT by 14.5% during the 2nd quarter. Citigroup Inc. now owns 3,654 shares of the company’s stock valued at $129,000 after purchasing an additional 462 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in PLDT by 7.4% during the 1st quarter. Bank of New York Mellon Corp now owns 8,272 shares of the company’s stock valued at $265,000 after purchasing an additional 568 shares in the last quarter. Finally, Wetherby Asset Management Inc. grew its holdings in PLDT by 19.7% during the 2nd quarter. Wetherby Asset Management Inc. now owns 10,734 shares of the company’s stock valued at $379,000 after purchasing an additional 1,770 shares in the last quarter. 9.46% of the stock is currently owned by institutional investors and hedge funds.

About PLDT

PLDT, Inc, formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.

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