Philippine Long Distance Telephone Co. (NYSE:PHI) saw strong trading volume on Wednesday . 242,681 shares were traded during mid-day trading, an increase of 64% from the previous session’s volume of 147,688 shares.The stock last traded at $40.25 and had previously closed at $40.72.

A number of research analysts have weighed in on the company. Citigroup Inc. lowered Philippine Long Distance Telephone from a “buy” rating to a “neutral” rating in a report on Wednesday. Zacks Investment Research lowered Philippine Long Distance Telephone from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Credit Suisse Group AG upgraded Philippine Long Distance Telephone from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 31st.

The company has a 50-day moving average of $43.97 and a 200-day moving average of $41.66. The company has a market cap of $8.64 billion and a price-to-earnings ratio of 21.63.

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 three business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.

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