PLDT (NYSE:PHI) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of PLDT (NYSE:PHI) from a sell rating to a hold rating in a research note published on Tuesday morning, 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. “

Other research analysts also recently issued reports about the stock. Nomura upgraded shares of PLDT from a neutral rating to a buy rating in a research note on Friday, August 9th. CLSA downgraded shares of PLDT from an outperform rating to an underperform rating in a research note on Friday, June 7th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $25.00.

Shares of NYSE:PHI traded up $0.05 during trading on Tuesday, reaching $23.08. The stock had a trading volume of 7,257 shares, compared to its average volume of 128,035. PLDT has a fifty-two week low of $19.36 and a fifty-two week high of $27.00. The company has a quick ratio of 0.39, a current ratio of 0.40 and a debt-to-equity ratio of 1.49. The business has a fifty day moving average price of $21.81 and a 200-day moving average price of $22.88. The stock has a market cap of $4.87 billion, a P/E ratio of 10.17 and a beta of 0.50.

PLDT (NYSE:PHI) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.50 earnings per share (EPS) for the quarter. The company had revenue of $819.46 million during the quarter. PLDT had a net margin of 11.64% and a return on equity of 22.02%. As a group, equities analysts forecast that PLDT will post 2.36 EPS for the current year.

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Monday, August 26th will be issued a dividend of $0.462 per share. The ex-dividend date is Friday, August 23rd. PLDT’s dividend payout ratio (DPR) is 40.53%.

Several large investors have recently modified their holdings of the business. Lazard Asset Management LLC raised its holdings in shares of PLDT by 32.9% during the first quarter. Lazard Asset Management LLC now owns 10,373,368 shares of the technology company’s stock worth $224,789,000 after purchasing an additional 2,568,604 shares during the period. Renaissance Technologies LLC raised its stake in shares of PLDT by 4.3% in the second quarter. Renaissance Technologies LLC now owns 3,048,554 shares of the technology company’s stock valued at $75,665,000 after buying an additional 124,600 shares during the period. Aperio Group LLC raised its stake in shares of PLDT by 49.5% in the second quarter. Aperio Group LLC now owns 516,600 shares of the technology company’s stock valued at $12,822,000 after buying an additional 170,992 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of PLDT by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 452,819 shares of the technology company’s stock valued at $9,678,000 after buying an additional 3,129 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of PLDT by 3.5% in the second quarter. Royal Bank of Canada now owns 364,987 shares of the technology company’s stock valued at $9,058,000 after buying an additional 12,180 shares during the period. 8.41% of the stock is currently owned by institutional investors.

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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