Philippine Long Distance Telephone Co. (NYSE:PHI) traded down 14.6% during mid-day trading on Tuesday . The company traded as low as $39.00 and last traded at $39.10, with a volume of 304,203 shares changing hands. The stock had previously closed at $45.78.

A number of brokerages have commented on PHI. Zacks Investment Research upgraded Philippine Long Distance Telephone from a “strong sell” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, May 3rd. Credit Suisse Group AG upgraded Philippine Long Distance Telephone from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 31st. Finally, Citigroup Inc. cut Philippine Long Distance Telephone from a “buy” rating to a “neutral” rating in a research note on Wednesday.

The company has a 50-day moving average price of $43.97 and a 200 day moving average price of $41.66. The company has a market cap of $8.74 billion and a P/E ratio of 26.15.

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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