PLDT (PHI) Cut to “Sell” at Citigroup

Citigroup lowered shares of PLDT (NYSE:PHI) from a neutral rating to a sell rating in a research note published on Wednesday, Marketbeat.com reports.

Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of PLDT from a sell rating to a hold rating in a research report on Saturday, November 3rd. JPMorgan Chase & Co. cut shares of PLDT from an overweight rating to a neutral rating in a research note on Monday, October 15th. Finally, Credit Suisse Group cut shares of PLDT from a neutral rating to an underperform rating in a research note on Tuesday, October 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. PLDT presently has an average rating of Hold and a consensus price target of $33.00.

PHI stock traded down $1.61 during trading on Wednesday, hitting $22.96. 63,236 shares of the stock traded hands, compared to its average volume of 57,997. PLDT has a 1 year low of $21.58 and a 1 year high of $34.38. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 9.08 and a beta of 0.68. 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 announced its quarterly earnings data on Thursday, August 9th. The technology company reported $0.62 EPS for the quarter. PLDT had a net margin of 5.24% and a return on equity of 20.18%. The company had revenue of $797.08 million for the quarter. As a group, research analysts predict that PLDT will post 2.14 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its stake in PLDT by 304.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,046 shares of the technology company’s stock valued at $118,000 after acquiring an additional 3,799 shares during the period. US Bancorp DE lifted its stake in PLDT by 255.6% during the 3rd quarter. US Bancorp DE now owns 5,782 shares of the technology company’s stock valued at $149,000 after acquiring an additional 4,156 shares during the period. Cubist Systematic Strategies LLC bought a new position in PLDT during the 2nd quarter valued at about $237,000. Acadian Asset Management LLC bought a new position in PLDT during the 2nd quarter valued at about $275,000. Finally, Wetherby Asset Management Inc. lifted its stake in PLDT by 41.0% during the 3rd quarter. Wetherby Asset Management Inc. now owns 13,493 shares of the technology company’s stock valued at $347,000 after acquiring an additional 3,925 shares during the period. Institutional investors and hedge funds own 6.56% of the company’s stock.

PLDT Company Profile

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.

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Analyst Recommendations for PLDT (NYSE:PHI)

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