PLDT (NYSE:PHI) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

PLDT (NYSE:PHI) issued its quarterly earnings data on Friday, May 15th. The technology company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04, Zacks reports. The business had revenue of $932.80 million for the quarter, compared to analyst estimates of $913.26 million. PLDT had a return on equity of 27.37% and a net margin of 13.62%.

PLDT Stock Performance

PLDT stock opened at $18.25 on Friday. The stock has a market cap of $3.94 billion, a P/E ratio of 7.60, a price-to-earnings-growth ratio of 2.68 and a beta of 0.60. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.42. PLDT has a fifty-two week low of $17.93 and a fifty-two week high of $24.51. The firm’s fifty day moving average price is $20.09 and its 200-day moving average price is $21.60.

Insider Buying and Selling at PLDT

In other PLDT news, Director Alfredo Santos Panlilio sold 4,505 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $22.64, for a total transaction of $101,993.20. Following the transaction, the director directly owned 3,000 shares in the company, valued at $67,920. This trade represents a 60.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On PLDT

Several institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its holdings in shares of PLDT by 6.8% during the third quarter. Envestnet Asset Management Inc. now owns 13,514 shares of the technology company’s stock valued at $253,000 after purchasing an additional 862 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of PLDT in the 4th quarter worth approximately $26,000. State Street Corp increased its position in PLDT by 5.6% during the 4th quarter. State Street Corp now owns 23,639 shares of the technology company’s stock valued at $514,000 after buying an additional 1,250 shares in the last quarter. Arax Advisory Partners increased its position in PLDT by 429.4% during the 4th quarter. Arax Advisory Partners now owns 1,710 shares of the technology company’s stock valued at $37,000 after buying an additional 1,387 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in PLDT by 155.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,069 shares of the technology company’s stock valued at $67,000 after buying an additional 1,866 shares during the last quarter. 2.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PHI. Weiss Ratings lowered shares of PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Zacks Research cut shares of PLDT from a “hold” rating to a “strong sell” rating in a report on Thursday, May 21st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PLDT presently has an average rating of “Reduce”.

About PLDT

Philippine Long Distance Telephone Company (PLDT) is the largest integrated telecommunications provider in the Philippines, offering a comprehensive suite of fixed‐line, wireless, broadband Internet, and digital solutions to residential, enterprise, and government customers. Founded in 1928, PLDT has played a pivotal role in the development of the country’s communications infrastructure, evolving from a traditional operator of long‐distance telephone lines into a diversified digital services provider.

PLDT operates two main business segments: its fixed‐line and broadband operations under the PLDT brand and its wireless services through subsidiary Smart Communications.