PLDT (PHI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of PLDT (NYSE:PHI) from a buy rating to a hold rating in a report issued on Saturday, January 13th.

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. “

PHI has been the topic of a number of other research reports. Citigroup upgraded PLDT from a sell rating to a neutral rating in a research note on Wednesday, December 6th. Bank of America upgraded PLDT from an underperform rating to a neutral rating in a research note on Thursday, December 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $33.00.

PLDT (NYSE PHI) traded up $0.35 on Friday, hitting $29.32. The stock had a trading volume of 19,325 shares, compared to its average volume of 93,660. PLDT has a 52 week low of $27.60 and a 52 week high of $38.54. The firm has a market capitalization of $6,377.97, a PE ratio of 11.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.83. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.53 and a current ratio of 0.55.

PLDT (NYSE:PHI) last released its quarterly earnings results on Thursday, November 9th. The technology company reported $0.53 earnings per share for the quarter. The business had revenue of $787.68 million during the quarter. PLDT had a return on equity of 25.56% and a net margin of 16.32%. analysts forecast that PLDT will post 2.5 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in shares of PLDT by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 356,592 shares of the technology company’s stock valued at $11,356,000 after purchasing an additional 7,015 shares during the period. Northern Trust Corp lifted its stake in shares of PLDT by 15.5% in the 2nd quarter. Northern Trust Corp now owns 152,290 shares of the technology company’s stock valued at $5,378,000 after purchasing an additional 20,426 shares during the period. Aperio Group LLC lifted its stake in shares of PLDT by 6.3% in the 3rd quarter. Aperio Group LLC now owns 125,034 shares of the technology company’s stock valued at $3,991,000 after purchasing an additional 7,415 shares during the period. Wells Fargo & Company MN lifted its stake in shares of PLDT by 7.1% in the 3rd quarter. Wells Fargo & Company MN now owns 74,332 shares of the technology company’s stock valued at $2,373,000 after purchasing an additional 4,923 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of PLDT in the 3rd quarter valued at about $1,457,000. 8.93% of the stock is currently owned by hedge funds and other 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.

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