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

Zacks Investment Research downgraded shares of PLDT (NYSE:PHI) from a buy rating to a hold rating in a research note released on Friday.

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. “

A number of other research firms also recently issued reports on PHI. Bank of America raised shares of PLDT from an underperform rating to a neutral rating in a research note on Thursday, December 14th. Citigroup raised shares of PLDT from a sell rating to a neutral rating in a research note on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. PLDT has a consensus rating of Hold and an average target price of $32.00.

PLDT (NYSE PHI) traded down $0.02 during mid-day trading on Friday, reaching $29.05. 61,943 shares of the company were exchanged, compared to its average volume of 83,255. PLDT has a 12 month low of $27.60 and a 12 month high of $38.54. The company has a market capitalization of $6,280.75, a P/E ratio of 11.95, a P/E/G ratio of 0.97 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.35.

PLDT (NYSE:PHI) last released its quarterly earnings results on Thursday, November 9th. The technology company reported $0.53 earnings per share (EPS) for the quarter. PLDT had a net margin of 16.32% and a return on equity of 25.56%. equities research analysts anticipate 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 business. Citigroup Inc. increased its stake in shares of PLDT by 14.5% during the second quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock valued at $129,000 after purchasing an additional 462 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of PLDT during the second quarter valued at approximately $145,000. Dynamic Technology Lab Private Ltd bought a new position in shares of PLDT during the second quarter valued at approximately $218,000. Allianz Asset Management GmbH increased its stake in shares of PLDT by 51.0% during the third quarter. Allianz Asset Management GmbH now owns 8,885 shares of the technology company’s stock valued at $284,000 after purchasing an additional 3,000 shares in the last quarter. Finally, M&T Bank Corp bought a new position in shares of PLDT during the second quarter valued at approximately $368,000. 9.03% of the stock is owned by institutional investors and hedge funds.

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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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