PLDT (NYSE:PHI) Cut to Neutral at JPMorgan Chase & Co.

PLDT (NYSE:PHI – Get Free Report) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Monday, Marketbeat Ratings reports.

A number of other research analysts have also issued reports on the stock. Weiss Ratings lowered shares of PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 3rd. Zacks Research upgraded shares of PLDT from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, TD Cowen reaffirmed a “hold” rating on shares of PLDT in a report on Thursday. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, PLDT has a consensus rating of “Hold”.

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Read Our Latest Analysis on PHI

PLDT Price Performance

Shares of NYSE:PHI opened at $19.32 on Monday. The company has a 50-day simple moving average of $18.73 and a 200-day simple moving average of $20.43. PLDT has a one year low of $17.05 and a one year high of $24.51. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.42. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 2.86 and a beta of 0.60.

Hedge Funds Weigh In On PLDT

Several institutional investors and hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PLDT during the fourth quarter worth $26,000. Farther Finance Advisors LLC grew its holdings in PLDT by 272.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,306 shares of the technology company’s stock valued at $28,000 after buying an additional 955 shares during the period. Arax Advisory Partners increased its stake in shares of PLDT by 429.4% during the 4th quarter. Arax Advisory Partners now owns 1,710 shares of the technology company’s stock valued at $37,000 after acquiring an additional 1,387 shares during the last quarter. CWM LLC increased its stake in shares of PLDT by 22.1% during the 4th quarter. CWM LLC now owns 2,590 shares of the technology company’s stock valued at $56,000 after acquiring an additional 469 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of PLDT by 155.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,069 shares of the technology company’s stock worth $67,000 after acquiring an additional 1,866 shares during the period. Hedge funds and other institutional investors own 2.26% of the company’s stock.

About PLDT

(Get Free Report)

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.

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