Zacks Research Downgrades PLDT (NYSE:PHI) to Strong Sell

PLDT (NYSE:PHI) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PLDT in a research report on Monday, May 4th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, PLDT currently has a consensus rating of “Reduce”.

PLDT Trading Up 0.3%

PLDT stock opened at $18.89 on Thursday. The firm has a 50-day moving average of $20.63 and a 200-day moving average of $21.68. PLDT has a one year low of $18.61 and a one year high of $24.51. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 7.87 and a beta of 0.64.

PLDT (NYSE:PHI) last released its earnings results on Friday, May 15th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The business had revenue of $932.80 million for the quarter, compared to the consensus estimate of $913.27 million. PLDT had a return on equity of 27.37% and a net margin of 13.62%. On average, equities analysts expect that PLDT will post 2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PLDT news, Director Alfredo Santos Panlilio sold 4,505 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $22.64, for a total transaction of $101,993.20. Following the transaction, the director owned 3,000 shares of the company’s stock, valued at $67,920. The trade was a 60.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PLDT

A number of institutional investors have recently bought and sold shares of PHI. CWM LLC boosted its holdings in shares of PLDT by 22.1% during the fourth quarter. CWM LLC now owns 2,590 shares of the technology company’s stock worth $56,000 after acquiring an additional 469 shares during the period. Signaturefd LLC boosted its holdings in shares of PLDT by 8.7% during the fourth quarter. Signaturefd LLC now owns 7,472 shares of the technology company’s stock worth $162,000 after acquiring an additional 597 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of PLDT by 6.8% during the third quarter. Envestnet Asset Management Inc. now owns 13,514 shares of the technology company’s stock worth $253,000 after acquiring an additional 862 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of PLDT by 272.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,306 shares of the technology company’s stock worth $28,000 after acquiring an additional 955 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of PLDT during the fourth quarter worth approximately $26,000. Institutional investors and hedge funds own 2.26% of the company’s stock.

About PLDT

Philippine Long Distance Telephone Company (PLDT) is the largest integrated telecommunications provider in the Philippines, offering a comprehensive suite of fixed‐line, wireless, broadband Internet, and digital solutions to residential, enterprise, and government customers. Founded in 1928, PLDT has played a pivotal role in the development of the country’s communications infrastructure, evolving from a traditional operator of long‐distance telephone lines into a diversified digital services provider.

PLDT operates two main business segments: its fixed‐line and broadband operations under the PLDT brand and its wireless services through subsidiary Smart Communications.