PLDT Inc. (PHI) Downgraded by Deutsche Bank AG

Deutsche Bank AG downgraded shares of PLDT Inc. (NYSE:PHI) from a buy rating to a hold rating in a report issued on Monday.

A number of other equities research analysts have also recently commented on PHI. Zacks Investment Research raised PLDT from a sell rating to a strong-buy rating and set a $39.00 target price on the stock in a research note on Saturday, April 8th. Credit Suisse Group cut PLDT from a neutral rating to an underperform rating in a research note on Wednesday, May 10th. Macquarie raised PLDT from a neutral rating to an outperform rating in a research note on Friday, May 26th. CLSA raised PLDT from a sell rating to a buy rating in a research note on Wednesday, May 24th. Finally, TheStreet raised PLDT from a d+ rating to a c- rating in a research note on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $39.00.

PLDT (PHI) traded down 0.57% during mid-day trading on Monday, reaching $33.33. 5,038 shares of the company traded hands. PLDT has a 12-month low of $25.50 and a 12-month high of $46.13. The company’s 50-day moving average is $35.87 and its 200-day moving average is $32.75. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 19.46 and a beta of 1.03.

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Several large investors have recently added to or reduced their stakes in PHI. Comerica Bank boosted its stake in PLDT by 12.5% in the fourth quarter. Comerica Bank now owns 12,307 shares of the technology company’s stock worth $362,000 after buying an additional 1,365 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in PLDT by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 317,463 shares of the technology company’s stock worth $8,747,000 after buying an additional 22,184 shares in the last quarter. Macquarie Group Ltd. boosted its stake in PLDT by 14.8% in the fourth quarter. Macquarie Group Ltd. now owns 69,700 shares of the technology company’s stock worth $1,920,000 after buying an additional 9,000 shares in the last quarter. Bank of Montreal Can boosted its stake in PLDT by 3.1% in the first quarter. Bank of Montreal Can now owns 68,444 shares of the technology company’s stock worth $2,200,000 after buying an additional 2,028 shares in the last quarter. Finally, Wetherby Asset Management Inc. bought a new stake in PLDT during the first quarter worth approximately $288,000. 10.15% of the stock is currently owned by hedge funds and other institutional investors.

About PLDT

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.

Analyst Recommendations for PLDT (NYSE:PHI)

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