PLDT (NYSE:PHI) Stock Rating Upgraded by Zacks Investment Research

PLDT (NYSE:PHI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, 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. “

Other analysts also recently issued reports about the company. CLSA downgraded PLDT from an “outperform” rating to an “underperform” rating in a research report on Friday, June 7th. Nomura upgraded PLDT from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $25.00.



Shares of NYSE:PHI traded up $0.07 during trading on Tuesday, reaching $23.06. 2,590 shares of the company traded hands, compared to its average volume of 131,518. The company’s 50 day moving average is $21.81 and its two-hundred day moving average is $22.88. The firm has a market capitalization of $4.77 billion, a PE ratio of 10.14 and a beta of 0.50. The company has a quick ratio of 0.39, a current ratio of 0.40 and a debt-to-equity ratio of 1.49. PLDT has a 52 week low of $19.36 and a 52 week high of $27.00.

PLDT (NYSE:PHI) last released its earnings results on Thursday, August 8th. The technology company reported $0.50 earnings per share for the quarter. The firm had revenue of $819.46 million during the quarter. PLDT had a return on equity of 22.02% and a net margin of 11.64%. As a group, research analysts anticipate that PLDT will post 2.36 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. lifted its position in shares of PLDT by 970.3% during the 2nd quarter. Advisor Group Inc. now owns 974 shares of the technology company’s stock worth $25,000 after buying an additional 883 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of PLDT during the 2nd quarter worth $34,000. Icon Wealth Partners LLC bought a new stake in shares of PLDT during the 1st quarter worth $41,000. Signaturefd LLC lifted its position in shares of PLDT by 20.7% during the 1st quarter. Signaturefd LLC now owns 2,448 shares of the technology company’s stock worth $53,000 after buying an additional 420 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of PLDT during the 4th quarter worth $89,000. Institutional investors and hedge funds own 8.41% of the company’s stock.

PLDT Company Profile

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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