Zacks Investment Research Downgrades PLDT (NYSE:PHI) to Hold

Zacks Investment Research downgraded shares of PLDT (NYSE:PHI) from a strong-buy rating to a hold rating in a research note published on Wednesday, 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 downgraded PLDT from an outperform rating to an underperform rating in a research report on Friday, June 7th. Five analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has an average rating of Sell and an average price target of $28.00.

Shares of PHI stock opened at $24.26 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.45 and a debt-to-equity ratio of 1.46. PLDT has a 52-week low of $19.36 and a 52-week high of $27.65. The stock has a market capitalization of $5.21 billion, a P/E ratio of 10.22 and a beta of 0.55. The stock has a fifty day simple moving average of $24.44.

PLDT (NYSE:PHI) last issued 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 for the quarter. Sell-side analysts predict that PLDT will post 2.37 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings in shares of PLDT by 20.7% during the first quarter. Signaturefd LLC now owns 2,448 shares of the technology company’s stock worth $53,000 after purchasing an additional 420 shares during the period. Icon Wealth Partners LLC purchased a new position in shares of PLDT during the first quarter valued at approximately $41,000. Dimensional Fund Advisors LP lifted its holdings in shares of PLDT by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 452,819 shares of the technology company’s stock valued at $9,678,000 after purchasing an additional 3,129 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of PLDT by 41.7% during the first quarter. Quadrant Capital Group LLC now owns 11,888 shares of the technology company’s stock valued at $256,000 after purchasing an additional 3,496 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of PLDT during the fourth quarter valued at approximately $89,000. 8.03% of the stock is currently owned by institutional investors and hedge funds.

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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