PLDT (NYSE:PHI) Upgraded at Zacks Research

Zacks Research upgraded shares of PLDT (NYSE:PHI) from a strong sell rating to a hold rating in a research note released on Monday,Zacks.com reports.

Separately, Weiss Ratings downgraded PLDT from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, PLDT currently has a consensus rating of “Hold”.

PLDT Trading Down 0.1%

NYSE PHI opened at $19.70 on Monday. PLDT has a 52 week low of $17.05 and a 52 week high of $24.51. The firm has a 50 day moving average of $18.40 and a two-hundred day moving average of $20.73. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $4.26 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 2.92 and a beta of 0.61.

PLDT (NYSE:PHI) last announced its quarterly earnings data on Friday, May 15th. The technology company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. PLDT had a net margin of 13.62% and a return on equity of 27.37%. The business had revenue of $932.80 million for the quarter, compared to analyst estimates of $913.26 million. As a group, research analysts expect that PLDT will post 2.58 EPS for the current fiscal year.

Institutional Investors Weigh In On PLDT

Several large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of PLDT by 74.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,390 shares of the technology company’s stock valued at $155,000 after acquiring an additional 3,155 shares during the period. Quantinno Capital Management LP raised its holdings in shares of PLDT by 47.0% in the first quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company’s stock valued at $2,548,000 after buying an additional 38,731 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of PLDT by 1.3% during the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company’s stock worth $48,961,000 after buying an additional 29,024 shares during the period. First Trust Advisors LP grew its holdings in shares of PLDT by 40.8% during the first quarter. First Trust Advisors LP now owns 17,926 shares of the technology company’s stock worth $377,000 after buying an additional 5,197 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of PLDT by 24.4% during the first quarter. PNC Financial Services Group Inc. now owns 26,494 shares of the technology company’s stock worth $557,000 after buying an additional 5,205 shares during the last quarter. 2.26% of the stock is owned by institutional investors and hedge funds.

About PLDT

Philippine Long Distance Telephone Company (PLDT) is the largest integrated telecommunications provider in the Philippines, offering a comprehensive suite of fixed‐line, wireless, broadband Internet, and digital solutions to residential, enterprise, and government customers. Founded in 1928, PLDT has played a pivotal role in the development of the country’s communications infrastructure, evolving from a traditional operator of long‐distance telephone lines into a diversified digital services provider.

PLDT operates two main business segments: its fixed‐line and broadband operations under the PLDT brand and its wireless services through subsidiary Smart Communications.