PLDT (PHI) Downgraded by Zacks Investment Research to “Hold”

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

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

PLDT (NYSE:PHI) opened at $28.47 on Friday. The stock has a market capitalization of $6,151.11, a PE ratio of 11.72, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. 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 has a 1-year low of $27.60 and a 1-year high of $38.54.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. grew its holdings in shares of PLDT by 14.5% in the 2nd quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock valued at $129,000 after acquiring an additional 462 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of PLDT in the 2nd quarter valued at about $145,000. Dynamic Technology Lab Private Ltd bought a new position in shares of PLDT in the 2nd quarter valued at about $218,000. Allianz Asset Management GmbH grew its holdings in shares of PLDT by 51.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 8,885 shares of the technology company’s stock valued at $284,000 after acquiring an additional 3,000 shares in the last quarter. Finally, M&T Bank Corp bought a new position in shares of PLDT in the 2nd quarter valued at 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.

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