BidaskClub Downgrades PLDT Inc. (PHI) to Strong Sell

BidaskClub cut shares of PLDT Inc. (NYSE:PHI) from a sell rating to a strong sell rating in a report published on Monday, July 24th.

Other equities analysts also recently issued reports about the company. CLSA raised PLDT from a sell rating to a buy rating in a research report on Wednesday, May 24th. TheStreet raised PLDT from a d+ rating to a c- rating in a research report on Monday, June 5th. Deutsche Bank AG downgraded PLDT from a buy rating to a hold rating in a research report on Monday, July 17th. Zacks Investment Research raised PLDT from a sell rating to a hold rating in a research report on Thursday, July 13th. Finally, Macquarie upgraded PLDT from a neutral rating to an outperform rating in a research note on Friday, May 26th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $39.00.

PLDT (PHI) traded down 1.23% during mid-day trading on Monday, hitting $33.59. 67,528 shares of the company’s stock traded hands. PLDT has a one year low of $25.50 and a one year high of $39.95. The firm’s 50-day moving average price is $33.68 and its 200-day moving average price is $33.22. The stock has a market cap of $7.26 billion, a PE ratio of 15.31 and a beta of 1.01.

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The firm also recently announced a semiannual dividend, which will be paid on Monday, September 18th. Investors of record on Thursday, August 24th will be paid a dividend of $0.9411 per share. This is a boost from PLDT’s previous semiannual dividend of $0.56. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a yield of 5.57%. PLDT’s payout ratio is presently 30.94%.

A number of large investors have recently bought and sold shares of PHI. Comerica Bank boosted its stake in PLDT by 1.3% in the first quarter. Comerica Bank now owns 12,468 shares of the technology company’s stock valued at $441,000 after buying an additional 161 shares during the last quarter. UBS Group AG boosted its stake in PLDT by 0.6% in the first quarter. UBS Group AG now owns 26,047 shares of the technology company’s stock valued at $837,000 after buying an additional 166 shares during the last quarter. World Asset Management Inc boosted its stake in PLDT by 1.5% in the first quarter. World Asset Management Inc now owns 13,457 shares of the technology company’s stock valued at $433,000 after buying an additional 194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in PLDT by 2.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,920 shares of the technology company’s stock valued at $383,000 after buying an additional 258 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in PLDT by 14.5% in the second quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock valued at $129,000 after buying an additional 462 shares during the last quarter. Hedge funds and other institutional investors own 9.64% of the company’s stock.

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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