PLDT (NYSE:PHI) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of PLDT (NYSE:PHI) from a strong sell rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Separately, Weiss Ratings cut shares of PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, PLDT currently has a consensus rating of “Hold”.

PLDT Price Performance

PLDT stock opened at $19.70 on Monday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.42 and a quick ratio of 0.40. The business has a 50 day simple moving average of $18.40 and a 200-day simple moving average of $20.74. PLDT has a 12 month low of $17.05 and a 12 month high of $24.51. The stock has a market capitalization of $4.26 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 2.96 and a beta of 0.61.

PLDT (NYSE:PHI) last posted its quarterly earnings data on Friday, May 15th. The technology company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The firm had revenue of $932.80 million for the quarter, compared to analyst estimates of $913.26 million. PLDT had a net margin of 13.62% and a return on equity of 27.37%. Equities analysts predict that PLDT will post 2.58 earnings per share for the current year.

Institutional Trading of PLDT

A number of institutional investors have recently modified their holdings of PHI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in PLDT during the fourth quarter worth $26,000. Farther Finance Advisors LLC lifted its holdings in PLDT by 272.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,306 shares of the technology company’s stock valued at $28,000 after acquiring an additional 955 shares during the period. Arax Advisory Partners lifted its holdings in PLDT by 429.4% in the fourth quarter. Arax Advisory Partners now owns 1,710 shares of the technology company’s stock valued at $37,000 after acquiring an additional 1,387 shares during the period. CWM LLC boosted its position in shares of PLDT by 22.1% during the 4th quarter. CWM LLC now owns 2,590 shares of the technology company’s stock worth $56,000 after purchasing an additional 469 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of PLDT by 155.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,069 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,866 shares in the last quarter. 2.26% of the stock is currently owned by hedge funds and other institutional investors.

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.