Zacks Research Upgrades PLDT (NYSE:PHI) to Hold

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

Separately, Weiss Ratings downgraded PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 3rd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

PLDT Price Performance

Shares of NYSE PHI opened at $19.70 on Monday. 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 quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 2.10. The stock’s 50 day moving average price is $18.40 and its 200-day moving average price is $20.74. PLDT has a twelve month low of $17.05 and a twelve month high of $24.51.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of PLDT during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its stake in PLDT by 272.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,306 shares of the technology company’s stock valued at $28,000 after purchasing an additional 955 shares during the last quarter. Arax Advisory Partners grew its holdings in PLDT by 429.4% during the fourth quarter. Arax Advisory Partners now owns 1,710 shares of the technology company’s stock valued at $37,000 after purchasing an additional 1,387 shares during the period. CWM LLC grew its holdings in PLDT by 22.1% during the fourth quarter. CWM LLC now owns 2,590 shares of the technology company’s stock valued at $56,000 after purchasing an additional 469 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in PLDT by 155.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,069 shares of the technology company’s stock worth $67,000 after buying an additional 1,866 shares during the last quarter. 2.26% of the stock is owned by institutional investors.

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.