PLDT (PHI) Downgraded by Zacks Investment Research to Sell

PLDT (NYSE:PHI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

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 equities research analysts 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. Finally, JPMorgan Chase & Co. upgraded shares of PLDT from a “neutral” rating to an “overweight” rating in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. PLDT has a consensus rating of “Hold” and a consensus target price of $33.00.

PLDT (PHI) opened at $29.14 on Wednesday. The stock has a market cap of $6,289.39, a P/E ratio of 11.99, a P/E/G ratio of 0.96 and a beta of 0.83. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.53 and a current ratio of 0.55. PLDT has a 1-year low of $27.60 and a 1-year high of $38.54.

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in shares of PLDT by 8.6% during the second quarter. JPMorgan Chase & Co. now owns 32,362 shares of the technology company’s stock worth $1,442,000 after buying an additional 2,569 shares during the period. Comerica Bank lifted its stake in shares of PLDT by 12.5% during the fourth quarter. Comerica Bank now owns 12,307 shares of the technology company’s stock worth $362,000 after buying an additional 1,365 shares during the period. M&T Bank Corp acquired a new stake in shares of PLDT during the second quarter worth $368,000. Deprince Race & Zollo Inc. lifted its stake in shares of PLDT by 8.8% during the second quarter. Deprince Race & Zollo Inc. now owns 64,363 shares of the technology company’s stock worth $2,869,000 after buying an additional 5,230 shares during the period. Finally, Susquehanna International Group LLP lifted its stake in shares of PLDT by 37.0% during the second quarter. Susquehanna International Group LLP now owns 36,392 shares of the technology company’s stock worth $1,285,000 after buying an additional 9,832 shares during the period. Institutional investors own 8.96% of the company’s stock.

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About PLDT

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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