PLDT (NYSE:PHI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of PLDT (NYSE:PHI) from a sell rating to a hold rating in a report issued on Tuesday morning, 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 brokerages have also issued reports on PHI. Nomura upgraded PLDT from a neutral rating to a buy rating in a report on Friday, August 9th. CLSA lowered 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 assigned a buy rating to the stock. PLDT has an average rating of Hold and a consensus price target of $25.00.

Shares of NYSE:PHI traded up $0.05 during trading hours on Tuesday, hitting $23.08. 7,257 shares of the company’s stock traded hands, compared to its average volume of 128,035. PLDT has a 1 year low of $19.36 and a 1 year high of $27.00. The business has a fifty day moving average price of $21.81 and a 200-day moving average price of $22.88. The firm has a market capitalization of $4.87 billion, a P/E ratio of 10.17 and a beta of 0.50. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.40 and a quick ratio of 0.39.

PLDT (NYSE:PHI) last announced its earnings results 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 business had revenue of $819.46 million during the quarter. As a group, equities analysts predict that PLDT will post 2.36 earnings per share for the current year.

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Monday, August 26th will be issued a $0.462 dividend. The ex-dividend date is Friday, August 23rd. PLDT’s payout ratio is 40.53%.

A number of large investors have recently bought and sold shares of the business. Advisor Group Inc. increased its holdings in shares of PLDT by 970.3% during the 2nd quarter. Advisor Group Inc. now owns 974 shares of the technology company’s stock worth $25,000 after buying an additional 883 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in PLDT in the second quarter valued at $34,000. Icon Wealth Partners LLC acquired a new position in PLDT in the first quarter valued at $41,000. Signaturefd LLC increased its stake in PLDT by 20.7% in the first quarter. Signaturefd LLC now owns 2,448 shares of the technology company’s stock valued at $53,000 after purchasing an additional 420 shares during the period. Finally, Deutsche Bank AG acquired a new position in PLDT in the fourth quarter valued at $89,000. 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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