PLDT (PHI) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of PLDT (NYSE:PHI) from an overweight rating to a neutral rating in a research report report published on Monday, The Fly reports.

A number of other equities research analysts also recently issued reports on PHI. CLSA raised shares of PLDT from an underperform rating to a buy rating in a research report on Monday, June 18th. Zacks Investment Research downgraded shares of PLDT from a strong-buy rating to a sell rating in a research report on Wednesday, July 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $33.00.

NYSE:PHI opened at $25.94 on Monday. 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. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.17 and a beta of 0.74.

PLDT (NYSE:PHI) last issued its quarterly earnings data on Thursday, August 9th. The technology company reported $0.62 earnings per share (EPS) for the quarter. PLDT had a net margin of 5.24% and a return on equity of 20.18%. The firm had revenue of $797.08 million during the quarter. On average, sell-side analysts forecast that PLDT will post 2.16 earnings per share for the current year.

Several hedge funds have recently modified their holdings of PHI. Renaissance Technologies LLC grew its position in shares of PLDT by 3.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,581,100 shares of the technology company’s stock valued at $60,346,000 after acquiring an additional 87,700 shares during the period. Dimensional Fund Advisors LP grew its position in shares of PLDT by 10.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 422,244 shares of the technology company’s stock valued at $9,863,000 after acquiring an additional 40,292 shares during the period. Royal Bank of Canada grew its position in shares of PLDT by 19.3% during the 1st quarter. Royal Bank of Canada now owns 247,662 shares of the technology company’s stock valued at $7,026,000 after acquiring an additional 40,078 shares during the period. BlackRock Inc. bought a new stake in shares of PLDT during the 2nd quarter valued at $908,000. Finally, Banco de Sabadell S.A bought a new stake in shares of PLDT during the 1st quarter valued at $727,000. 6.68% 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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