PLDT (NYSE:PHI) Upgraded by Zacks Research to "Strong Sell" Rating
Zacks Research has downgraded PLDT (NYSE:PHI) to a "strong sell" rating. This follows a previous downgrade by Wall Street Zen from "buy" to "hold". PLDT's stock opened at $22.62, with a market cap of $4.89 billion and a P/E ratio of 8.73. The company reported an EPS of $0.71, missing estimates. Institutional investors have recently increased their stakes in PLDT, which provides telecommunications and digital services in the Philippines. Analysts forecast an EPS of 2.76 for the current year.
PLDT (NYSE:PHI - Get Free Report) was upgraded by investment analysts at Zacks Research to a "strong sell" rating in a research note issued on Tuesday,Zacks.com reports.
Separately, Wall Street Zen cut shares of PLDT from a "buy" rating to a "hold" rating in a research report on Friday, June 6th.
View Our Latest Stock Report on PHI
PLDT Stock Performance
Shares of NYSE PHI opened at $22.62 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.37 and a debt-to-equity ratio of 2.16. The firm's 50-day moving average price is $22.31 and its two-hundred day moving average price is $22.79. PLDT has a 52-week low of $20.29 and a 52-week high of $29.05. The stock has a market capitalization of $4.89 billion, a P/E ratio of 8.73, a P/E/G ratio of 2.04 and a beta of 0.71.
PLDT (NYSE:PHI - Get Free Report) last announced its earnings results on Thursday, May 15th. The technology company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.02). The firm had revenue of $991.52 million for the quarter. PLDT had a return on equity of 28.96% and a net margin of 14.67%. As a group, sell-side analysts forecast that PLDT will post 2.76 earnings per share for the current year.
Institutional Investors Weigh In On PLDT
Institutional investors and hedge funds have recently modified their holdings of the business. Walleye Capital LLC bought a new stake in PLDT in the fourth quarter valued at about $266,000. Northern Trust Corp increased its stake in PLDT by 1,189.5% in the fourth quarter. Northern Trust Corp now owns 138,992 shares of the technology company's stock valued at $3,079,000 after purchasing an additional 128,213 shares in the last quarter. Jane Street Group LLC increased its position in shares of PLDT by 199.9% during the fourth quarter. Jane Street Group LLC now owns 23,632 shares of the technology company's stock worth $523,000 after acquiring an additional 15,752 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of PLDT by 49.4% during the fourth quarter. BNP Paribas Financial Markets now owns 4,396 shares of the technology company's stock worth $97,000 after acquiring an additional 1,453 shares in the last quarter. Finally, Bank of America Corp DE grew its position in PLDT by 12.5% in the fourth quarter. Bank of America Corp DE now owns 27,170 shares of the technology company's stock valued at $602,000 after purchasing an additional 3,023 shares in the last quarter. Institutional investors and hedge funds own 2.26% of the company's stock.
PLDT Company Profile
(Get Free Report)PLDT Inc provides telecommunications and digital services in the Philippines. The company operates through three segments: Wireless, Fixed Line, and Others. It 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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