PLDT (PHI) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of PLDT (NYSE:PHI) from a hold rating to a sell rating in a report released on Wednesday.

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. “

Several other research analysts have also recently commented on the company. JPMorgan Chase & Co. upgraded PLDT from a neutral rating to an overweight rating in a research note on Friday, January 26th. Bank of America upgraded PLDT from an underperform rating to a neutral rating in a research note on Thursday, December 14th. Finally, Citigroup upgraded PLDT from a sell rating to a neutral rating in a research note on Wednesday, December 6th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $33.00.

PLDT (NYSE:PHI) opened at $29.36 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.35. PLDT has a one year low of $27.60 and a one year high of $38.54. The company has a market capitalization of $6,328.28, a PE ratio of 12.08, a P/E/G ratio of 0.97 and a beta of 0.83.

Several large investors have recently added to or reduced their stakes in PHI. Tower Research Capital LLC TRC lifted its stake in shares of PLDT by 158.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,879 shares of the technology company’s stock worth $117,000 after acquiring an additional 2,380 shares in the last quarter. Citigroup Inc. lifted its stake in shares of 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 acquiring an additional 462 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of PLDT in the second quarter worth about $218,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of PLDT in the fourth quarter worth about $262,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of 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 acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 8.96% 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.

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