PLDT (NYSE:PHI) Issues Earnings Results, Beats Estimates By $0.04 EPS

PLDT (NYSE:PHIGet Free Report) posted its quarterly earnings results on Friday, May 15th. The technology company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04, Zacks reports. PLDT had a return on equity of 27.37% and a net margin of 13.62%.The business had revenue of $932.80 million during the quarter, compared to the consensus estimate of $913.26 million.

PLDT Stock Performance

PLDT stock opened at $17.74 on Wednesday. The company has a 50 day moving average price of $19.21 and a 200-day moving average price of $21.19. The company has a market capitalization of $3.83 billion, a PE ratio of 7.39, a P/E/G ratio of 2.62 and a beta of 0.60. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.42. PLDT has a fifty-two week low of $17.05 and a fifty-two week high of $24.51.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Zacks Research lowered shares of PLDT from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 21st. Weiss Ratings cut PLDT from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 3rd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

Check Out Our Latest Stock Analysis on PLDT

Insider Activity at PLDT

In related news, Director Alfredo Santos Panlilio sold 4,505 shares of PLDT stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $22.64, for a total value of $101,993.20. Following the completion of the sale, the director directly owned 3,000 shares in the company, valued at $67,920. This trade represents a 60.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is owned by insiders.

Institutional Investors Weigh In On PLDT

Institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in PLDT by 6.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 13,514 shares of the technology company’s stock worth $253,000 after acquiring an additional 862 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PLDT in the fourth quarter valued at about $26,000. State Street Corp grew its position in shares of PLDT by 5.6% in the fourth quarter. State Street Corp now owns 23,639 shares of the technology company’s stock valued at $514,000 after purchasing an additional 1,250 shares during the period. Arax Advisory Partners increased its stake in shares of PLDT by 429.4% during the fourth quarter. Arax Advisory Partners now owns 1,710 shares of the technology company’s stock worth $37,000 after purchasing an additional 1,387 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in PLDT by 155.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,069 shares of the technology company’s stock valued at $67,000 after buying an additional 1,866 shares in the last quarter. Institutional investors and hedge funds own 2.26% of the company’s stock.

About PLDT

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Philippine Long Distance Telephone Company (PLDT) is the largest integrated telecommunications provider in the Philippines, offering a comprehensive suite of fixed‐line, wireless, broadband Internet, and digital solutions to residential, enterprise, and government customers. Founded in 1928, PLDT has played a pivotal role in the development of the country’s communications infrastructure, evolving from a traditional operator of long‐distance telephone lines into a diversified digital services provider.

PLDT operates two main business segments: its fixed‐line and broadband operations under the PLDT brand and its wireless services through subsidiary Smart Communications.

Further Reading

Earnings History for PLDT (NYSE:PHI)

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