PLDT (NYSE:PHI) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of PLDT (NYSE:PHI) from a sell rating to a hold rating in a research report report published on Wednesday morning, Zacks.com 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. “

A number of other analysts also recently weighed in on PHI. Nomura upgraded PLDT from a neutral rating to a buy rating in a research note on Friday, August 9th. CLSA downgraded PLDT from an outperform rating to an underperform rating in a research note on Friday, June 7th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $25.00.

PLDT stock opened at $21.98 on Wednesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.40 and a quick ratio of 0.39. PLDT has a 1-year low of $19.36 and a 1-year high of $27.00. The company has a market cap of $4.84 billion, a PE ratio of 10.01 and a beta of 0.50. The stock’s 50 day moving average price is $21.88 and its 200 day moving average price is $22.97.

PLDT (NYSE:PHI) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.50 earnings per share for the quarter. PLDT had a return on equity of 22.02% and a net margin of 11.64%. The firm had revenue of $819.46 million for the quarter. On average, equities research analysts anticipate that PLDT will post 2.36 EPS for the current fiscal year.

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 18th. Investors of record on Monday, August 26th were paid a $0.462 dividend. The ex-dividend date was Friday, August 23rd. PLDT’s dividend payout ratio (DPR) is presently 40.97%.

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in PLDT by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 452,819 shares of the technology company’s stock worth $9,678,000 after purchasing an additional 3,129 shares in the last quarter. Deutsche Bank AG purchased a new stake in PLDT during the fourth quarter worth $89,000. Bank of Montreal Can boosted its position in PLDT by 35.9% during the first quarter. Bank of Montreal Can now owns 70,211 shares of the technology company’s stock worth $1,521,000 after purchasing an additional 18,547 shares in the last quarter. Greenleaf Trust purchased a new stake in PLDT during the first quarter worth $223,000. Finally, Wetherby Asset Management Inc. purchased a new stake in PLDT during the first quarter worth $244,000. Hedge funds and other institutional investors own 8.41% of the company’s stock.

About PLDT

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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Analyst Recommendations for PLDT (NYSE:PHI)

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