PLDT (NYSE:PHI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of PLDT (NYSE:PHI) from a buy rating to a hold rating in a research note released on Thursday, January 4th. The firm currently has $34.00 price target on the technology company’s stock.

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. “

Several other research firms have also recently weighed in on PHI. Citigroup upgraded shares of PLDT from a sell rating to a neutral rating in a research note on Wednesday, December 6th. Bank of America upgraded shares of PLDT from an underperform rating to a neutral rating in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $32.00.

PLDT (NYSE PHI) traded down $0.01 during mid-day trading on Thursday, reaching $28.81. 159,100 shares of the company’s stock were exchanged, compared to its average volume of 112,287. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.55 and a quick ratio of 0.53. PLDT has a one year low of $27.60 and a one year high of $38.54. The company has a market capitalization of $6,150.00, a PE ratio of -8.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Citigroup Inc. increased its holdings in shares of PLDT by 14.5% during the second quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock worth $129,000 after buying an additional 462 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of PLDT by 51.0% in the third quarter. Allianz Asset Management GmbH now owns 8,885 shares of the technology company’s stock valued at $284,000 after purchasing an additional 3,000 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of PLDT in the second quarter valued at approximately $145,000. Wells Fargo & Company MN increased its holdings in shares of PLDT by 7.1% in the third quarter. Wells Fargo & Company MN now owns 74,332 shares of the technology company’s stock valued at $2,373,000 after purchasing an additional 4,923 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of PLDT in the second quarter valued at approximately $218,000. Hedge funds and other institutional investors own 9.03% of the company’s stock.

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PLDT Company Profile

PLDT, Inc, formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.

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