PLDT (PHI) Downgraded by Bank of America

Bank of America lowered shares of PLDT (NYSE:PHI) from a buy rating to an underperform rating in a research note issued to investors on Tuesday, The Fly reports.

Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded PLDT from a hold rating to a sell rating in a report on Saturday, October 27th. Macquarie downgraded PLDT from an outperform rating to a neutral rating in a report on Wednesday, November 14th. Credit Suisse Group downgraded PLDT from a neutral rating to an underperform rating in a report on Tuesday, October 16th. JPMorgan Chase & Co. downgraded PLDT from an overweight rating to a neutral rating in a report on Monday, October 15th. Finally, Citigroup downgraded PLDT from a neutral rating to a sell rating in a report on Wednesday, November 7th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $25.00.

NYSE PHI opened at $22.40 on Tuesday. PLDT has a twelve month low of $21.58 and a twelve month high of $32.68. The stock has a market cap of $4.84 billion, a P/E ratio of 8.85 and a beta of 0.68. The company has a current ratio of 0.66, a quick ratio of 0.63 and a debt-to-equity ratio of 1.46.

PLDT (NYSE:PHI) last released its earnings results on Thursday, November 8th. The technology company reported $0.50 earnings per share for the quarter. The firm had revenue of $764.11 million for the quarter. PLDT had a return on equity of 20.15% and a net margin of 4.60%. On average, equities analysts anticipate that PLDT will post 2.19 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in PHI. UBS Group AG raised its holdings in shares of PLDT by 10.3% in the 1st quarter. UBS Group AG now owns 29,576 shares of the technology company’s stock worth $840,000 after purchasing an additional 2,771 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of PLDT by 9.2% in the 1st quarter. Allianz Asset Management GmbH now owns 28,585 shares of the technology company’s stock worth $811,000 after purchasing an additional 2,400 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of PLDT in the second quarter valued at about $275,000. Segall Bryant & Hamill LLC grew its stake in shares of PLDT by 158.0% in the second quarter. Segall Bryant & Hamill LLC now owns 20,900 shares of the technology company’s stock valued at $489,000 after buying an additional 12,800 shares in the last quarter. Finally, BlackRock Inc. acquired a new stake in shares of PLDT in the second quarter valued at about $908,000. Institutional investors own 6.53% of the company’s stock.

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.

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The Fly

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