PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Sets New 52-Week Low – Here’s What Happened

Shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) reached a new 52-week low during trading on Monday . The company traded as low as $13.58 and last traded at $13.6150, with a volume of 828966 shares. The stock had previously closed at $14.08.

Analysts Set New Price Targets

Several brokerages recently weighed in on TLK. Zacks Research lowered PT Telekomunikasi Indonesia, Tbk from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 14th. Weiss Ratings raised PT Telekomunikasi Indonesia, Tbk from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

PT Telekomunikasi Indonesia, Tbk Stock Up 2.6%

The firm’s 50-day moving average price is $16.13 and its 200-day moving average price is $18.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $13.64 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 2.49 and a beta of 0.34.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) last posted its earnings results on Saturday, May 16th. The utilities provider reported $0.26 earnings per share for the quarter. PT Telekomunikasi Indonesia, Tbk had a net margin of 11.10% and a return on equity of 10.75%. The business had revenue of $2.19 billion for the quarter. Sell-side analysts forecast that PT Telekomunikasi Indonesia, Tbk will post 2.04 earnings per share for the current fiscal year.

PT Telekomunikasi Indonesia, Tbk Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, July 20th. Shareholders of record on Thursday, June 18th will be paid a dividend of $1.2214 per share. This represents a dividend yield of 824.0%. The ex-dividend date is Thursday, June 18th. PT Telekomunikasi Indonesia, Tbk’s payout ratio is currently 94.95%.

Institutional Investors Weigh In On PT Telekomunikasi Indonesia, Tbk

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC lifted its position in PT Telekomunikasi Indonesia, Tbk by 34.6% during the 3rd quarter. Lazard Asset Management LLC now owns 20,071,706 shares of the utilities provider’s stock worth $377,750,000 after acquiring an additional 5,154,799 shares in the last quarter. Northcape Capital Pty Ltd lifted its position in shares of PT Telekomunikasi Indonesia, Tbk by 111.4% during the fourth quarter. Northcape Capital Pty Ltd now owns 1,256,211 shares of the utilities provider’s stock worth $27,222,000 after purchasing an additional 662,110 shares in the last quarter. Millennium Management LLC lifted its position in shares of PT Telekomunikasi Indonesia, Tbk by 606.8% during the first quarter. Millennium Management LLC now owns 468,651 shares of the utilities provider’s stock worth $6,922,000 after purchasing an additional 402,344 shares in the last quarter. Barometer Capital Management Inc. purchased a new position in shares of PT Telekomunikasi Indonesia, Tbk in the first quarter valued at $6,385,000. Finally, First Trust Advisors LP boosted its stake in shares of PT Telekomunikasi Indonesia, Tbk by 1,041.8% in the third quarter. First Trust Advisors LP now owns 345,772 shares of the utilities provider’s stock valued at $6,507,000 after purchasing an additional 315,488 shares during the period.

About PT Telekomunikasi Indonesia, Tbk

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia’s largest integrated telecommunications provider. The company’s core operations encompass the provision of fixed-line and mobile voice services, broadband internet, and network infrastructure. It serves a broad customer base that includes residential subscribers, businesses, government agencies and wholesale partners, offering connectivity across urban and rural areas of Indonesia.

Telkom’s product and service portfolio spans consumer broadband and digital entertainment, enterprise ICT solutions, managed network services, data center and cloud platforms, and wholesale international connectivity.