PLDT (NYSE:PHI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
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. “
PHI has been the topic of several other research reports. Citigroup raised shares of PLDT from a “sell” rating to a “neutral” rating in a report on Wednesday, December 6th. Bank of America raised shares of PLDT from an “underperform” rating to a “neutral” rating in a report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $32.00.
Shares of PLDT (NYSE PHI) opened at $28.47 on Friday. The stock has a market cap of $5,940.00, a price-to-earnings ratio of -8.04, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.35. PLDT has a fifty-two week low of $27.60 and a fifty-two week high of $38.54.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. grew its holdings in shares of PLDT by 14.5% in the 2nd quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock worth $129,000 after purchasing an additional 462 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of PLDT by 51.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 8,885 shares of the technology company’s stock worth $284,000 after purchasing an additional 3,000 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of PLDT in the 2nd quarter worth about $145,000. Wells Fargo & Company MN grew its holdings in shares of PLDT by 7.1% in the 3rd quarter. Wells Fargo & Company MN now owns 74,332 shares of the technology company’s stock worth $2,373,000 after purchasing an additional 4,923 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of PLDT in the 2nd quarter worth about $218,000. 9.03% of the stock is currently owned by institutional investors and hedge funds.
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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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