PLDT (NYSE:PHI) Rating Lowered to “Hold” at Wall Street Zen

Wall Street Zen cut shares of PLDT (NYSE:PHI) from a buy rating to a hold rating in a research note issued to investors on Friday.

PLDT Price Performance

Shares of NYSE PHI opened at $22.86 on Friday. The firm has a 50-day simple moving average of $22.80 and a 200-day simple moving average of $22.80. The company has a quick ratio of 0.32, a current ratio of 0.34 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. PLDT has a 52 week low of $20.29 and a 52 week high of $29.05.

PLDT (NYSE:PHI) last announced its quarterly earnings data on Thursday, May 15th. The technology company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.02). The business had revenue of $991.52 million for the quarter. PLDT had a net margin of 12.34% and a return on equity of 22.11%. On average, equities analysts predict that PLDT will post 2.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PLDT

A number of large investors have recently made changes to their positions in the stock. US Bancorp DE lifted its position in PLDT by 22.4% during the fourth quarter. US Bancorp DE now owns 17,861 shares of the technology company’s stock worth $396,000 after buying an additional 3,269 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in PLDT in the 4th quarter valued at $49,000. West Family Investments Inc. grew its holdings in PLDT by 42.1% in the 4th quarter. West Family Investments Inc. now owns 12,352 shares of the technology company’s stock valued at $274,000 after buying an additional 3,659 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of PLDT by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,842 shares of the technology company’s stock worth $284,000 after acquiring an additional 807 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of PLDT by 12.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 11,629 shares of the technology company’s stock worth $258,000 after acquiring an additional 1,310 shares during the period. 2.26% of the stock is currently owned by hedge funds and other institutional investors.

About PLDT

PLDT Inc provides telecommunications and digital services in the Philippines. The company operates through three segments: Wireless, Fixed Line, and Others. It offers cellular mobile, Internet broadband distribution, operations support, software development, and satellite information and messaging services; and sells Wi-Fi access equipment.