PLDT (NYSE:PHI) Stock Jumps 3% – Time to Buy?

PLDT Inc. (NYSE:PHI) shares were up 3% during trading on Wednesday. The stock traded as high as $18.58 and last traded at $18.64. Approximately 85,839 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 144,425 shares. The stock had previously closed at $18.09.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of PLDT from an “overweight” rating to a “neutral” rating in a report on Monday, August 17th. TD Cowen reiterated a “hold” rating on shares of PLDT in a research report on Thursday, August 13th. Zacks Research raised shares of PLDT from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Weiss Ratings lowered PLDT from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 31st. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

PLDT Stock Up 2.8%

The business’s 50 day simple moving average is $18.58 and its 200-day simple moving average is $19.13. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.43 and a current ratio of 0.44. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 8.38, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64.

PLDT Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, September 25th. Shareholders of record on Thursday, August 27th were paid a $0.7515 dividend. This represents a yield of 841.0%. This is a decrease from PLDT’s previous dividend of $0.7977. The ex-dividend date was Thursday, August 27th. PLDT’s dividend payout ratio is presently 49.10%.

Institutional Investors Weigh In On PLDT

Several institutional investors have recently made changes to their positions in the company. Quantinno Capital Management LP raised its position in PLDT by 47.0% during the first quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company’s stock valued at $2,548,000 after acquiring an additional 38,731 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of PLDT by 1.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company’s stock worth $48,961,000 after purchasing an additional 29,024 shares during the last quarter. Engineers Gate Manager LP raised its holdings in shares of PLDT by 40.3% during the 2nd quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company’s stock valued at $401,000 after purchasing an additional 6,572 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of PLDT by 74.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,390 shares of the technology company’s stock valued at $155,000 after purchasing an additional 3,155 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of PLDT by 40.8% in the 1st quarter. First Trust Advisors LP now owns 17,926 shares of the technology company’s stock valued at $377,000 after purchasing an additional 5,197 shares during the last quarter. 2.26% of the stock is currently owned by institutional investors and hedge funds.

PLDT Company Profile

PLDT Inc is a Philippine telecommunications and digital services company headquartered in Makati City, Philippines. Established in 1928, the company has developed from a traditional fixed-line telephone provider into an integrated communications business serving consumers, enterprises and government organizations across the Philippines.

Through its PLDT brand, the company provides fixed-line voice services, home and enterprise broadband, fiber connectivity, data transmission and information and communications technology solutions.