PLDT (PHI) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of PLDT (NYSE:PHI) from a buy rating to a hold rating in a research report sent to investors on Friday.

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 weighed in on PHI. Bank of America upgraded shares of PLDT from an underperform rating to a neutral rating in a report on Thursday, December 14th. Citigroup upgraded shares of PLDT from a sell rating to a neutral rating in a report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $32.00.

PLDT (NYSE:PHI) traded down $0.02 during trading on Friday, hitting $29.05. 61,943 shares of the stock were exchanged, compared to its average volume of 83,255. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $6,280.75, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.97 and a beta of 0.94. PLDT has a one year low of $27.60 and a one year high of $38.54.

PLDT (NYSE:PHI) last posted its earnings results on Thursday, November 9th. The technology company reported $0.53 earnings per share for the quarter. PLDT had a net margin of 16.32% and a return on equity of 25.56%. sell-side analysts anticipate that PLDT will post 2.5 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Citigroup Inc. raised its stake in PLDT by 14.5% in the second quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock worth $129,000 after buying an additional 462 shares in the last quarter. SG Americas Securities LLC bought a new position in PLDT in the second quarter worth about $145,000. Dynamic Technology Lab Private Ltd bought a new position in PLDT in the second quarter worth about $218,000. Allianz Asset Management GmbH raised its stake in PLDT by 51.0% in the third quarter. Allianz Asset Management GmbH now owns 8,885 shares of the technology company’s stock worth $284,000 after buying an additional 3,000 shares in the last quarter. Finally, M&T Bank Corp bought a new position in PLDT in the second quarter worth about $368,000. Institutional investors own 9.03% of the company’s stock.

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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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