PLDT (PHI) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of PLDT (NYSE:PHI) from a buy rating to a hold rating in a research note released on Saturday morning.

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 analysts have also recently commented on the stock. Citigroup raised shares of PLDT from a sell rating to a neutral rating in a research report on Wednesday, December 6th. Bank of America raised shares of PLDT from an underperform rating to a neutral rating in a research report on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $32.00.

Shares of PLDT (NYSE PHI) traded down $0.34 on Friday, reaching $28.47. 150,947 shares of the company’s stock were exchanged, compared to its average volume of 93,204. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $6,151.11, a PE ratio of 10.39, a P/E/G ratio of 0.95 and a beta of 0.94. PLDT has a twelve month low of $27.60 and a twelve month high of $38.54.

PLDT (NYSE:PHI) last issued its quarterly earnings results on Thursday, November 9th. The technology company reported $0.53 EPS for the quarter. PLDT had a net margin of 16.32% and a return on equity of 25.56%. research analysts forecast that PLDT will post 2.5 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of PLDT by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 356,592 shares of the technology company’s stock worth $11,356,000 after purchasing an additional 7,015 shares in the last quarter. Northern Trust Corp boosted its position in shares of PLDT by 15.5% during the 2nd quarter. Northern Trust Corp now owns 152,290 shares of the technology company’s stock worth $5,378,000 after purchasing an additional 20,426 shares in the last quarter. Aperio Group LLC boosted its position in shares of PLDT by 6.3% during the 3rd quarter. Aperio Group LLC now owns 125,034 shares of the technology company’s stock worth $3,991,000 after purchasing an additional 7,415 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of PLDT by 7.1% during the 3rd quarter. Wells Fargo & Company MN now owns 74,332 shares of the technology company’s stock worth $2,373,000 after purchasing an additional 4,923 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of PLDT during the 3rd quarter worth about $1,457,000. 9.03% of the stock is currently owned by institutional investors.

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PLDT Company Profile

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.

Analyst Recommendations for PLDT (NYSE:PHI)

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