PLDT Inc. (PHI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of PLDT Inc. (NYSE:PHI) from a hold rating to a sell rating in a research report released on Tuesday, October 24th.

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. “

Several other equities analysts have also commented on PHI. Deutsche Bank AG lowered PLDT from a buy rating to a hold rating in a research note on Monday, July 17th. BidaskClub lowered PLDT from a sell rating to a strong sell rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold.

Shares of PLDT (NYSE:PHI) traded up C$0.76 during trading hours on Tuesday, hitting C$34.13. The stock had a trading volume of 62,663 shares, compared to its average volume of 67,176. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.60 and a quick ratio of 0.57. PLDT has a twelve month low of C$25.50 and a twelve month high of C$38.54. The stock has a market capitalization of $7,373.99, a P/E ratio of 13.13, a P/E/G ratio of 0.93 and a beta of 0.99.

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A number of institutional investors have recently added to or reduced their stakes in PHI. M&T Bank Corp acquired a new stake in PLDT during the second quarter worth about $368,000. Susquehanna International Group LLP increased its stake in PLDT by 37.0% during the second quarter. Susquehanna International Group LLP now owns 36,392 shares of the company’s stock worth $1,285,000 after acquiring an additional 9,832 shares during the last quarter. UBS Group AG increased its stake in PLDT by 0.6% during the first quarter. UBS Group AG now owns 26,047 shares of the company’s stock worth $837,000 after acquiring an additional 166 shares during the last quarter. Bank of New York Mellon Corp increased its stake in PLDT by 7.4% during the first quarter. Bank of New York Mellon Corp now owns 8,272 shares of the company’s stock worth $265,000 after acquiring an additional 568 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in PLDT by 9.6% during the second quarter. Wells Fargo & Company MN now owns 69,409 shares of the company’s stock worth $2,451,000 after acquiring an additional 6,062 shares during the last quarter. Hedge funds and other institutional investors own 9.46% of the company’s stock.

PLDT Company Profile

PLDT, Inc, formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.

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