PLDT (PHI) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of PLDT (NYSE:PHI) from a hold rating to a sell rating in a research note published on Saturday morning.

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 a number of other research reports. JPMorgan Chase & Co. cut shares of PLDT from an overweight rating to a neutral rating in a research report on Monday, October 15th. Credit Suisse Group cut shares of PLDT from a neutral rating to an underperform rating in a research report on Tuesday, October 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. PLDT currently has a consensus rating of Hold and a consensus target price of $33.00.

PHI stock opened at $25.77 on Friday. PLDT has a 12-month low of $21.58 and a 12-month high of $34.38. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.25 and a beta of 0.74. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.71 and a current ratio of 0.75.

PLDT (NYSE:PHI) last released its quarterly earnings data on Thursday, August 9th. The technology company reported $0.62 earnings per share (EPS) for the quarter. PLDT had a net margin of 5.24% and a return on equity of 20.18%. The firm had revenue of $797.08 million for the quarter. As a group, equities analysts predict that PLDT will post 2.14 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in shares of PLDT by 3.5% during the second quarter. Renaissance Technologies LLC now owns 2,581,100 shares of the technology company’s stock valued at $60,346,000 after buying an additional 87,700 shares during the period. Jane Street Group LLC purchased a new position in shares of PLDT during the first quarter valued at about $631,000. Northern Trust Corp increased its position in shares of PLDT by 11.1% during the first quarter. Northern Trust Corp now owns 167,851 shares of the technology company’s stock valued at $4,762,000 after buying an additional 16,788 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of PLDT during the second quarter valued at about $237,000. Finally, Wells Fargo & Company MN increased its position in shares of PLDT by 17.6% during the first quarter. Wells Fargo & Company MN now owns 89,100 shares of the technology company’s stock valued at $2,528,000 after buying an additional 13,354 shares during the period. Institutional investors own 6.56% of the company’s stock.

About PLDT

PLDT Inc operates as a telecommunications company in the Philippines. The company's Wireless segment offers cellular mobile, Internet broadband distribution, operations support, mobile applications and digital platforms development, mobile payment, solutions and systems integration, satellite communications, and satellite information and messaging services.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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