PLDT (NYSE:PHI) was upgraded by research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a note issued to investors on Thursday, MarketBeat.com reports.
A number of other research firms also recently weighed in on PHI. Zacks Investment Research raised shares of PLDT from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Citigroup raised shares of PLDT from a “sell” rating to a “neutral” rating in a research report on Wednesday, December 6th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. PLDT has a consensus rating of “Hold”.
Shares of PLDT (NYSE:PHI) traded up $0.83 during midday trading on Thursday, reaching $29.96. 118,414 shares of the company’s stock traded hands, compared to its average volume of 95,044. 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 1-year low of $25.80 and a 1-year high of $38.54. The company has a market cap of $6,350.00, a price-to-earnings ratio of 10.33, a PEG ratio of 0.77 and a beta of 0.94.
Several large investors have recently added to or reduced their stakes in PHI. Dimensional Fund Advisors LP grew its position in PLDT by 10.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 349,577 shares of the technology company’s stock valued at $11,226,000 after purchasing an additional 32,114 shares during the last quarter. Canada Pension Plan Investment Board grew its position in PLDT by 221.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 96,410 shares of the technology company’s stock valued at $3,404,000 after purchasing an additional 66,409 shares during the last quarter. SG Americas Securities LLC purchased a new stake in PLDT during the 2nd quarter valued at about $145,000. Wells Fargo & Company MN grew its position in PLDT by 9.6% during the 2nd quarter. Wells Fargo & Company MN now owns 69,409 shares of the technology company’s stock valued at $2,451,000 after purchasing an additional 6,062 shares during the last quarter. Finally, Citigroup Inc. grew its position in PLDT by 14.5% during the 2nd quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock valued at $129,000 after purchasing an additional 462 shares during the last quarter. 9.03% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: “PLDT (PHI) Upgraded to Neutral at Bank of America” was first posted by American Market News and is the sole property of of American Market News. If you are viewing this report on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/12/14/pldt-phi-upgraded-to-neutral-at-bank-of-america.html.
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.
