PLDT (PHI) Downgraded to “Sell” at Citigroup

Share on StockTwits

PLDT (NYSE:PHI) was downgraded by research analysts at Citigroup from a “neutral” rating to a “sell” rating in a research note issued to investors on Wednesday, The Fly reports.

Several other equities research analysts also recently weighed in on PHI. Zacks Investment Research downgraded shares of PLDT from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, July 11th. JPMorgan Chase & Co. downgraded shares of PLDT from an “overweight” rating to a “neutral” rating in a research note on Monday, October 15th. Finally, Credit Suisse Group downgraded shares of PLDT from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. PLDT has an average rating of “Hold” and an average target price of $33.00.

Shares of PHI stock opened at $26.25 on Wednesday. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 10.38 and a beta of 0.68. PLDT has a 1 year low of $21.58 and a 1 year high of $34.38. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.71 and a current ratio of 0.75.

PLDT (NYSE:PHI) last issued its quarterly earnings data on Thursday, August 9th. The technology company reported $0.62 earnings per share (EPS) for the quarter. The company had revenue of $797.08 million for the quarter. PLDT had a return on equity of 20.18% and a net margin of 5.24%. Analysts predict that PLDT will post 2.14 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in shares of PLDT by 3.5% during the second quarter. Renaissance Technologies LLC now owns 2,581,100 shares of the technology company’s stock worth $60,346,000 after buying an additional 87,700 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of PLDT by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 422,244 shares of the technology company’s stock worth $9,863,000 after buying an additional 40,292 shares during the period. Royal Bank of Canada boosted its stake in shares of PLDT by 19.3% during the first quarter. Royal Bank of Canada now owns 247,662 shares of the technology company’s stock worth $7,026,000 after buying an additional 40,078 shares during the period. Aperio Group LLC boosted its stake in shares of PLDT by 27.6% during the third quarter. Aperio Group LLC now owns 206,389 shares of the technology company’s stock worth $5,304,000 after buying an additional 44,633 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of 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 buying an additional 16,788 shares during the period. Institutional investors and hedge funds own 6.56% of the company’s stock.

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.

Featured Story: What is a Market Correction?

The Fly

Analyst Recommendations for PLDT (NYSE:PHI)

Receive News & Ratings for PLDT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PLDT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply