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

PLDT (NYSE:PHI) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

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

PLDT Stock Down 1.5%

Shares of PHI opened at $19.70 on Monday. The stock’s 50-day moving average price is $18.40 and its two-hundred day moving average price is $20.74. PLDT has a 12 month low of $17.05 and a 12 month high of $24.51. The company has a market capitalization of $4.26 billion, a PE ratio of 8.21, a PEG ratio of 2.96 and a beta of 0.61. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10.

PLDT (NYSE:PHI) last issued its quarterly earnings results on Friday, May 15th. The technology company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. PLDT had a return on equity of 27.37% and a net margin of 13.62%.The company had revenue of $932.80 million during the quarter, compared to analysts’ expectations of $913.26 million. On average, analysts anticipate that PLDT will post 2.58 EPS for the current year.

Institutional Trading of PLDT

Several hedge funds have recently modified their holdings of PHI. EverSource Wealth Advisors LLC boosted its stake in PLDT by 155.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,069 shares of the technology company’s stock worth $67,000 after acquiring an additional 1,866 shares in the last quarter. Arax Advisory Partners grew 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 worth $37,000 after purchasing an additional 1,387 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in PLDT in the fourth quarter valued at $26,000. Renaissance Technologies LLC increased its stake in PLDT by 1.3% in the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company’s stock valued at $48,961,000 after purchasing an additional 29,024 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of PLDT by 21.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 21,289 shares of the technology company’s stock valued at $463,000 after purchasing an additional 3,714 shares during the period. Institutional investors own 2.26% of the company’s stock.

PLDT Company Profile

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.