PLDT (NYSE:PHI) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of PLDT (NYSE:PHI) from a strong-buy rating to a hold rating in a research note released on Wednesday morning, 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. “

Separately, CLSA lowered shares of PLDT from an outperform rating to an underperform rating in a report on Friday, June 7th. Five analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has a consensus rating of Sell and an average price target of $28.00.

PHI opened at $24.26 on Wednesday. The company’s fifty day moving average price is $24.44. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 10.28 and a beta of 0.55. PLDT has a twelve month low of $19.36 and a twelve month high of $27.65. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.43 and a current ratio of 0.45.

PLDT (NYSE:PHI) last released its quarterly earnings results on Thursday, May 9th. The technology company reported $0.63 earnings per share for the quarter. The business had revenue of $791.00 million during the quarter. PLDT had a net margin of 11.31% and a return on equity of 23.17%. Analysts forecast that PLDT will post 2.37 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Icon Wealth Partners LLC acquired a new position in PLDT during the 1st quarter worth $41,000. Signaturefd LLC grew its holdings in PLDT by 20.7% during the 1st quarter. Signaturefd LLC now owns 2,448 shares of the technology company’s stock worth $53,000 after acquiring an additional 420 shares in the last quarter. Deutsche Bank AG acquired a new position in PLDT during the 4th quarter worth $89,000. Greenleaf Trust acquired a new position in PLDT during the 1st quarter worth $223,000. Finally, Wetherby Asset Management Inc. acquired a new position in PLDT during the 1st quarter worth $244,000. 8.03% of the stock is 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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