PLDT (NYSE:PHI) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

PLDT Inc. (NYSE:PHI)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $21.15 and traded as high as $21.95. PLDT shares last traded at $21.7750, with a volume of 29,222 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PHI shares. UBS Group cut shares of PLDT from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PLDT in a research note on Monday, December 1st. Finally, Zacks Research raised PLDT from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PLDT presently has a consensus rating of “Reduce”.

PLDT Price Performance

The company has a market cap of $4.70 billion, a P/E ratio of 9.19, a P/E/G ratio of 1.99 and a beta of 0.65. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.37 and a current ratio of 0.38. The firm has a 50 day moving average price of $20.17 and a two-hundred day moving average price of $21.15.

PLDT (NYSE:PHI) last issued its quarterly earnings results on Wednesday, November 12th. The technology company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.06). The business had revenue of $922.04 million for the quarter, compared to the consensus estimate of $953.29 million. PLDT had a net margin of 13.40% and a return on equity of 28.27%. On average, analysts predict that PLDT Inc. will post 2.76 EPS for the current fiscal year.

Hedge Funds Weigh In On PLDT

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of PLDT by 3.4% during the first quarter. PNC Financial Services Group Inc. now owns 13,279 shares of the technology company’s stock valued at $290,000 after purchasing an additional 437 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of PLDT by 6.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 13,514 shares of the technology company’s stock worth $253,000 after buying an additional 862 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in PLDT by 9.5% during the second quarter. Sequoia Financial Advisors LLC now owns 13,942 shares of the technology company’s stock valued at $303,000 after buying an additional 1,205 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in PLDT by 155.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,069 shares of the technology company’s stock valued at $67,000 after buying an additional 1,866 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in PLDT by 12.8% in the first quarter. US Bancorp DE now owns 20,140 shares of the technology company’s stock worth $440,000 after acquiring an additional 2,279 shares in the last quarter. Hedge funds and other institutional investors own 2.26% of the company’s stock.

PLDT Company Profile

PLDT Inc provides telecommunications and digital services in the Philippines. The company operates through three segments: Wireless, Fixed Line, and Others. It offers cellular mobile, Internet broadband distribution, operations support, software development, and satellite information and messaging services; and sells Wi-Fi access equipment.