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

PLDT (NYSE:PHI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.

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 issued reports on the company. JPMorgan Chase & Co. lowered PLDT from an “overweight” rating to a “neutral” rating in a research report on Monday, October 15th. Credit Suisse Group lowered PLDT from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.00.

PHI opened at $25.83 on Friday. The stock has a market capitalization of $5.49 billion, a P/E ratio of 10.21 and a beta of 0.68. PLDT has a 12 month low of $21.58 and a 12 month high of $34.38. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 1.48.

PLDT (NYSE:PHI) last released its quarterly earnings results on Thursday, August 9th. The technology company reported $0.62 EPS for the quarter. PLDT had a return on equity of 20.18% and a net margin of 5.24%. The company had revenue of $797.08 million during the quarter. Analysts anticipate that PLDT will post 2.14 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of PHI. Tower Research Capital LLC TRC raised its stake in shares of PLDT by 304.7% during the second quarter. Tower Research Capital LLC TRC now owns 5,046 shares of the technology company’s stock valued at $118,000 after acquiring an additional 3,799 shares in the last quarter. US Bancorp DE raised its stake in shares of PLDT by 255.6% during the third quarter. US Bancorp DE now owns 5,782 shares of the technology company’s stock valued at $149,000 after acquiring an additional 4,156 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of PLDT during the second quarter valued at approximately $237,000. Acadian Asset Management LLC bought a new stake in shares of PLDT during the second quarter valued at approximately $275,000. Finally, Segall Bryant & Hamill LLC raised its stake in shares of PLDT by 158.0% during the second quarter. Segall Bryant & Hamill LLC now owns 20,900 shares of the technology company’s stock valued at $489,000 after acquiring an additional 12,800 shares in the last quarter. 6.56% of the stock is owned by hedge funds and other institutional investors.

PLDT Company Profile

PLDT Inc operates as a telecommunications company in the Philippines. The company's Wireless segment offers cellular mobile, Internet broadband distribution, operations support, mobile applications and digital platforms development, mobile payment, solutions and systems integration, satellite communications, and satellite information and messaging services.

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Analyst Recommendations for PLDT (NYSE:PHI)

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