PLDT (PHI) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of PLDT (NYSE:PHI) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $33.00 price target on the technology company’s stock.
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. “
Other analysts have also recently issued research reports about the company. Bank of America upgraded PLDT from an underperform rating to a neutral rating in a research report on Thursday, December 14th. Citigroup upgraded PLDT from a sell rating to a neutral rating in a research report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. PLDT presently has a consensus rating of Hold and a consensus target price of $33.00.
PLDT (NYSE:PHI) last posted its earnings results on Thursday, November 9th. The technology company reported $0.53 EPS for the quarter. PLDT had a return on equity of 25.56% and a net margin of 16.32%. The business had revenue of $787.68 million for the quarter. sell-side analysts predict that PLDT will post 2.5 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of PHI. Jane Street Group LLC acquired a new stake in shares of PLDT during the third quarter worth about $1,457,000. Northern Trust Corp increased its position in shares of PLDT by 15.5% during the second quarter. Northern Trust Corp now owns 152,290 shares of the technology company’s stock worth $5,378,000 after purchasing an additional 20,426 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of PLDT during the second quarter worth about $368,000. Susquehanna International Group LLP increased its position 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 purchasing an additional 9,832 shares in the last quarter. Finally, Aperio Group LLC increased its position in shares of PLDT by 6.3% during the third quarter. Aperio Group LLC now owns 125,034 shares of the technology company’s stock worth $3,991,000 after purchasing an additional 7,415 shares in the last quarter. Institutional investors and hedge funds own 9.03% of the company’s stock.
PLDT Company Profile
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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