PLDT (NYSE:PHI) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of PLDT (NYSE:PHI) from a strong-buy rating to a hold rating in a report issued on Wednesday morning, 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. “

Separately, CLSA lowered PLDT from an outperform rating to an underperform rating in a research note on Friday, June 7th. Five equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. PLDT has an average rating of Sell and a consensus price target of $28.00.

Shares of NYSE PHI opened at $24.26 on Wednesday. The company’s 50 day moving average is $24.44. PLDT has a 52 week low of $19.36 and a 52 week high of $27.65. The company has a quick ratio of 0.43, a current ratio of 0.45 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $5.21 billion, a PE ratio of 10.22 and a beta of 0.55.

PLDT (NYSE:PHI) last released its quarterly earnings data on Thursday, May 9th. The technology company reported $0.63 earnings per share (EPS) for the quarter. PLDT had a return on equity of 23.17% and a net margin of 11.31%. The company had revenue of $791.00 million during the quarter. As a group, sell-side analysts forecast that PLDT will post 2.37 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. United Services Automobile Association boosted its holdings in shares of PLDT by 6.5% during the 4th quarter. United Services Automobile Association now owns 78,880 shares of the technology company’s stock valued at $1,686,000 after acquiring an additional 4,800 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PLDT by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 452,819 shares of the technology company’s stock valued at $9,678,000 after acquiring an additional 3,129 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of PLDT in the fourth quarter valued at approximately $470,000. Jane Street Group LLC bought a new position in shares of PLDT in the fourth quarter valued at approximately $586,000. Finally, B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new position in shares of PLDT in the fourth quarter valued at approximately $1,159,000. Hedge funds and other institutional investors own 8.03% of the company’s stock.

About PLDT

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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