PLDT (NYSE:PHI) Upgraded by Zacks Investment Research to Hold

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

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. “

A number of other research firms have also recently commented on PHI. Nomura raised PLDT from a neutral rating to a buy rating in a report on Friday, August 9th. CLSA cut PLDT from an outperform rating to an underperform rating in a report on Friday, June 7th. Five analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $25.00.

Shares of NYSE:PHI opened at $21.98 on Wednesday. The stock has a 50 day moving average of $21.88 and a 200 day moving average of $22.97. The company has a market cap of $4.80 billion, a PE ratio of 9.92 and a beta of 0.50. The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 1.49. PLDT has a 12-month low of $19.36 and a 12-month high of $27.00.

PLDT (NYSE:PHI) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.50 earnings per share (EPS) for the quarter. PLDT had a return on equity of 22.02% and a net margin of 11.64%. The company had revenue of $819.46 million during the quarter. Equities research analysts predict that PLDT will post 2.36 earnings per share for the current fiscal year.

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 18th. Investors of record on Monday, August 26th were issued a $0.462 dividend. The ex-dividend date of this dividend was Friday, August 23rd. PLDT’s dividend payout ratio is presently 40.97%.

A number of hedge funds and other institutional investors have recently bought and sold shares of PHI. Royal Bank of Canada raised its holdings in shares of PLDT by 3.5% during the 2nd quarter. Royal Bank of Canada now owns 364,987 shares of the technology company’s stock worth $9,058,000 after acquiring an additional 12,180 shares in the last quarter. United Services Automobile Association raised its holdings in PLDT by 6.0% during the 2nd quarter. United Services Automobile Association now owns 140,670 shares of the technology company’s stock valued at $3,491,000 after buying an additional 7,990 shares during the period. Bank of America Corp DE raised its holdings in PLDT by 0.8% during the 2nd quarter. Bank of America Corp DE now owns 73,170 shares of the technology company’s stock valued at $1,816,000 after buying an additional 588 shares during the period. Tower Research Capital LLC TRC purchased a new stake in PLDT during the 2nd quarter valued at $34,000. Finally, BlackRock Inc. raised its holdings in PLDT by 60.5% during the 2nd quarter. BlackRock Inc. now owns 179,716 shares of the technology company’s stock valued at $4,462,000 after buying an additional 67,720 shares during the period. 8.41% of the stock is currently owned by institutional investors.

PLDT Company Profile

PLDT Inc operates as a telecommunications company in the Philippines. The company operates in three segments: Wireless, Fixed Line, and Others. The Wireless segment 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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