PLDT (PHI) Rating Lowered to Hold at Jefferies Group

PLDT (NYSE:PHI) was downgraded by research analysts at Jefferies Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other analysts have also commented on the company. Zacks Investment Research lowered PLDT from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. JPMorgan Chase upgraded PLDT from a “neutral” rating to an “overweight” rating in a report on Friday, January 26th. Morgan Stanley upgraded PLDT from an “underweight” rating to an “equal weight” rating in a report on Friday, March 9th. Finally, HSBC lowered PLDT from a “buy” rating to a “reduce” rating in a report on Friday, May 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $33.00.

Shares of PLDT opened at $26.01 on Wednesday, MarketBeat.com reports. The firm has a market cap of $5.68 billion, a P/E ratio of 10.31 and a beta of 0.81. PLDT has a 12 month low of $25.51 and a 12 month high of $26.15. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.55 and a current ratio of 0.58.

PLDT (NYSE:PHI) last issued its quarterly earnings results on Thursday, March 8th. The technology company reported $0.41 EPS for the quarter. The business had revenue of $802.90 million for the quarter. PLDT had a return on equity of 25.23% and a net margin of 9.61%. research analysts anticipate that PLDT will post 2.2 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in PLDT by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 381,952 shares of the technology company’s stock worth $10,836,000 after buying an additional 14,160 shares during the last quarter. Northern Trust Corp increased its position in PLDT by 11.1% in 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 last quarter. Wells Fargo & Company MN increased its position in PLDT by 17.6% in the first quarter. Wells Fargo & Company MN now owns 89,100 shares of the technology company’s stock worth $2,528,000 after buying an additional 13,354 shares during the last quarter. Guggenheim Capital LLC increased its position in PLDT by 29.9% in the first quarter. Guggenheim Capital LLC now owns 77,221 shares of the technology company’s stock worth $2,191,000 after buying an additional 17,753 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in PLDT by 23.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 63,261 shares of the technology company’s stock worth $1,903,000 after buying an additional 11,901 shares during the last quarter. 8.91% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for PLDT (NYSE:PHI)

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