Zacks Investment Research Downgrades PLDT (PHI) to Sell

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Zacks Investment Research cut shares of PLDT (NYSE:PHI) from a hold rating to a sell rating in a research report released on Saturday morning.

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. “

PHI has been the topic of several other research reports. Jefferies Financial Group downgraded shares of PLDT from a buy rating to a hold rating in a research note on Wednesday, May 16th. CLSA raised shares of PLDT from an underperform rating to a buy rating in a research note on Monday, June 18th. Finally, HSBC downgraded shares of PLDT from a buy rating to a reduce rating in a research note on Friday, May 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $33.00.

Shares of PLDT traded down $0.72, hitting $25.29, on Friday, according to Marketbeat Ratings. 95,138 shares of the stock traded hands, compared to its average volume of 71,451. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.55 and a current ratio of 0.58. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 10.00 and a beta of 0.78. PLDT has a 1 year low of $21.58 and a 1 year high of $34.51.

PLDT (NYSE:PHI) last announced its quarterly earnings data on Friday, May 11th. The technology company reported $0.54 earnings per share (EPS) for the quarter. The business had revenue of $787.25 million for the quarter. PLDT had a net margin of 9.63% and a return on equity of 24.46%. equities analysts expect that PLDT will post 2.16 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Deutsche Bank AG increased its position in PLDT by 96.7% during the fourth quarter. Deutsche Bank AG now owns 39,545 shares of the technology company’s stock worth $1,189,000 after purchasing an additional 19,445 shares during the last quarter. Northern Trust Corp increased its position in PLDT by 11.1% during the first quarter. Northern Trust Corp now owns 167,851 shares of the technology company’s stock worth $4,762,000 after purchasing an additional 16,788 shares during the last quarter. Jane Street Group LLC acquired a new position in PLDT during the first quarter worth approximately $631,000. Wells Fargo & Company MN increased its position in PLDT by 17.6% during the first quarter. Wells Fargo & Company MN now owns 89,100 shares of the technology company’s stock worth $2,528,000 after purchasing an additional 13,354 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in PLDT during the fourth quarter worth approximately $948,000. 6.63% of the stock is owned by hedge funds and other institutional investors.

About PLDT

PLDT Inc operates as a telecommunications company in the Philippines. The company's Wireless segment offers cellular mobile, Internet broadband distribution, operations support, mobile applications and digital platforms development, mobile payment, solutions and systems integration, satellite communications, and satellite information and messaging services.

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Analyst Recommendations for PLDT (NYSE:PHI)

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