PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Stock Price Down 5% – Here’s Why

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) fell 5% during mid-day trading on Friday . The company traded as low as $16.33 and last traded at $16.2950. 435,552 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 725,929 shares. The stock had previously closed at $17.16.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TLK. Weiss Ratings downgraded shares of PT Telekomunikasi Indonesia, Tbk from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 14th. Zacks Research downgraded shares of PT Telekomunikasi Indonesia, Tbk from a “hold” rating to a “strong sell” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Sell”.

PT Telekomunikasi Indonesia, Tbk Stock Performance

The firm has a market capitalization of $16.20 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 4.66 and a beta of 0.36. The stock’s fifty day moving average is $17.85 and its two-hundred day moving average is $20.00. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 0.17.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) last issued its earnings results on Wednesday, May 27th. The utilities provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.65. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.30 billion. PT Telekomunikasi Indonesia, Tbk had a net margin of 14.78% and a return on equity of 13.86%. On average, analysts predict that PT Telekomunikasi Indonesia, Tbk will post 1.39 earnings per share for the current year.

Hedge Funds Weigh In On PT Telekomunikasi Indonesia, Tbk

Institutional investors and hedge funds have recently modified their holdings of the stock. Factory Mutual Insurance Co. acquired a new position in shares of PT Telekomunikasi Indonesia, Tbk in the third quarter valued at $1,638,000. American Century Companies Inc. increased its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 11.3% in the third quarter. American Century Companies Inc. now owns 904,285 shares of the utilities provider’s stock valued at $17,019,000 after purchasing an additional 91,448 shares during the last quarter. Northcape Capital Pty Ltd increased its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 111.4% in the fourth quarter. Northcape Capital Pty Ltd now owns 1,256,211 shares of the utilities provider’s stock valued at $27,222,000 after purchasing an additional 662,110 shares during the last quarter. Barometer Capital Management Inc. increased its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 102.5% in the third quarter. Barometer Capital Management Inc. now owns 223,200 shares of the utilities provider’s stock valued at $4,201,000 after purchasing an additional 113,000 shares during the last quarter. Finally, Ramirez Asset Management Inc. increased its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 52.5% in the third quarter. Ramirez Asset Management Inc. now owns 535,828 shares of the utilities provider’s stock valued at $10,084,000 after purchasing an additional 184,478 shares during the last quarter.

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.