PLDT (NYSE: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 Tuesday, Zacks.com reports.

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 subject of several other reports. Nomura upgraded PLDT from a neutral rating to a buy rating in a research note on Friday, August 9th. CLSA lowered PLDT from an outperform rating to an underperform rating in a research note on Friday, June 7th. Six research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $25.00.

NYSE:PHI opened at $20.79 on Tuesday. PLDT has a 12 month low of $19.36 and a 12 month high of $27.15. The stock has a 50 day moving average of $22.60 and a two-hundred day moving average of $22.98. The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 1.49. The firm has a market cap of $4.48 billion, a P/E ratio of 9.16 and a beta of 0.56.

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Monday, August 26th will be paid a dividend of $0.462 per share. The ex-dividend date of this dividend is Friday, August 23rd. PLDT’s dividend payout ratio (DPR) is currently 40.53%.

A number of large investors have recently bought and sold shares of the business. Signaturefd LLC increased its stake in PLDT by 20.7% during the 1st quarter. Signaturefd LLC now owns 2,448 shares of the technology company’s stock worth $53,000 after buying an additional 420 shares in the last quarter. Bank of America Corp DE increased its stake in PLDT by 0.8% during the 2nd quarter. Bank of America Corp DE now owns 73,170 shares of the technology company’s stock worth $1,816,000 after buying an additional 588 shares in the last quarter. Advisor Group Inc. increased its stake in PLDT by 970.3% during the 2nd quarter. Advisor Group Inc. now owns 974 shares of the technology company’s stock worth $25,000 after buying an additional 883 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in PLDT during the 2nd quarter worth approximately $34,000. Finally, Icon Wealth Partners LLC purchased a new stake in PLDT during the 1st quarter worth approximately $41,000. Institutional investors own 8.35% of the company’s stock.

PLDT Company Profile

PLDT Inc operates as a telecommunications company in the Philippines. The company operates in three segments: Wireless, Fixed Line, and Others. The Wireless segment offers cellular mobile, Internet broadband distribution, operations support, software development, and satellite information and messaging services; and sells Wi-Fi access equipment.

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