PLDT (PHI) Rating Lowered to Underweight at Morgan Stanley

PLDT (NYSE:PHI) was downgraded by Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report issued on Wednesday, Marketbeat Ratings reports.

Several other research analysts have also recently commented on PHI. Zacks Investment Research raised PLDT from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Citigroup lowered PLDT from a “neutral” rating to a “sell” rating in a research report on Wednesday, November 7th. Credit Suisse Group lowered PLDT from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 16th. JPMorgan Chase & Co. lowered PLDT from an “overweight” rating to a “neutral” rating in a research report on Monday, October 15th. Finally, Bank of America cut PLDT from a “buy” rating to an “underperform” rating in a research note on Tuesday, November 20th. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. PLDT presently has an average rating of “Hold” and a consensus price target of $25.00.

PHI stock traded down $0.33 during mid-day trading on Wednesday, reaching $23.29. 8,918 shares of the stock traded hands, compared to its average volume of 92,418. The company has a current ratio of 0.66, a quick ratio of 0.63 and a debt-to-equity ratio of 1.46. PLDT has a 52-week low of $20.49 and a 52-week high of $32.66. The firm has a market capitalization of $4.86 billion, a PE ratio of 9.21 and a beta of 0.57.

PLDT (NYSE:PHI) last issued its quarterly earnings data on Thursday, November 8th. The technology company reported $0.50 earnings per share for the quarter. PLDT had a net margin of 4.60% and a return on equity of 20.15%. The firm had revenue of $764.11 million for the quarter. On average, equities research analysts anticipate that PLDT will post 2.19 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Federated Investors Inc. PA bought a new stake in PLDT during the third quarter worth $197,000. Renaissance Technologies LLC lifted its stake in shares of PLDT by 5.3% in the 3rd quarter. Renaissance Technologies LLC now owns 2,717,900 shares of the technology company’s stock valued at $69,850,000 after acquiring an additional 136,800 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of PLDT in the 3rd quarter valued at about $260,000. Allianz Asset Management GmbH raised its position in PLDT by 13.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 45,685 shares of the technology company’s stock valued at $1,174,000 after purchasing an additional 5,300 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of PLDT during the 3rd quarter worth approximately $206,000.

About PLDT

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.

Featured Story: Trading Ex-Dividend Strategy

Analyst Recommendations for PLDT (NYSE:PHI)

Receive News & Ratings for PLDT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PLDT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply