Zacks Investment Research upgraded shares of PLDT (NYSE:PHI) from a sell rating to a hold rating in a report issued on Friday.
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. “
Separately, CLSA raised PLDT from an underperform rating to a buy rating in a research report on Monday, June 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $33.00.
PLDT (NYSE:PHI) last released its quarterly earnings data on Thursday, August 9th. The technology company reported $0.62 earnings per share (EPS) for the quarter. The business had revenue of $797.08 million during the quarter. PLDT had a return on equity of 20.18% and a net margin of 5.24%. On average, research analysts expect that PLDT will post 2.16 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its position in shares of PLDT by 9.2% during the 1st quarter. Allianz Asset Management GmbH now owns 28,585 shares of the technology company’s stock worth $811,000 after acquiring an additional 2,400 shares in the last quarter. UBS Group AG boosted its position in shares of PLDT by 10.3% during the 1st quarter. UBS Group AG now owns 29,576 shares of the technology company’s stock worth $840,000 after acquiring an additional 2,771 shares in the last quarter. Sei Investments Co. boosted its position in shares of PLDT by 11.1% during the 1st quarter. Sei Investments Co. now owns 29,924 shares of the technology company’s stock worth $849,000 after acquiring an additional 3,000 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of PLDT by 304.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,046 shares of the technology company’s stock valued at $118,000 after purchasing an additional 3,799 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of PLDT by 4.7% in the 2nd quarter. Bank of America Corp DE now owns 139,255 shares of the technology company’s stock valued at $3,256,000 after purchasing an additional 6,307 shares during the period. 6.68% of the stock is owned by institutional investors and hedge funds.
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.
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