PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Shares Gap Down – Here’s What Happened

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) gapped down before the market opened on Thursday . The stock had previously closed at $15.85, but opened at $14.88. PT Telekomunikasi Indonesia, Tbk shares last traded at $14.73, with a volume of 73,341 shares traded.

Analyst Ratings Changes

TLK has been the subject of a number of recent analyst reports. Zacks Research lowered shares of PT Telekomunikasi Indonesia, Tbk from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 14th. Weiss Ratings raised shares of PT Telekomunikasi Indonesia, Tbk from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, PT Telekomunikasi Indonesia, Tbk currently has an average rating of “Sell”.

PT Telekomunikasi Indonesia, Tbk Price Performance

The firm has a fifty day simple moving average of $16.93 and a 200 day simple moving average of $19.31. The company has a market capitalization of $14.67 billion, a PE ratio of 14.95, a P/E/G ratio of 2.92 and a beta of 0.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 0.92.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) last released its quarterly earnings data on Saturday, May 16th. The utilities provider reported $0.26 earnings per share for the quarter. PT Telekomunikasi Indonesia, Tbk had a net margin of 11.10% and a return on equity of 10.75%. The company had revenue of $2.19 billion during the quarter. Equities analysts anticipate that PT Telekomunikasi Indonesia, Tbk will post 2.04 EPS for the current year.

PT Telekomunikasi Indonesia, Tbk Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Monday, July 20th. Investors of record on Thursday, June 18th will be paid a $1.2214 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a yield of 824.0%. PT Telekomunikasi Indonesia, Tbk’s dividend payout ratio is 93.94%.

Institutional Trading of PT Telekomunikasi Indonesia, Tbk

Hedge funds have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. lifted its stake in PT Telekomunikasi Indonesia, Tbk by 828.9% in the third quarter. Brown Brothers Harriman & Co. now owns 1,319 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 1,177 shares during the period. Raymond James Financial Inc. purchased a new stake in PT Telekomunikasi Indonesia, Tbk in the second quarter worth about $25,000. Kestra Advisory Services LLC purchased a new stake in PT Telekomunikasi Indonesia, Tbk in the fourth quarter worth about $36,000. Smartleaf Asset Management LLC lifted its stake in PT Telekomunikasi Indonesia, Tbk by 70.8% in the second quarter. Smartleaf Asset Management LLC now owns 2,222 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 921 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in PT Telekomunikasi Indonesia, Tbk in the fourth quarter worth about $40,000.

About PT Telekomunikasi Indonesia, Tbk

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia’s largest integrated telecommunications provider. The company’s core operations encompass the provision of fixed-line and mobile voice services, broadband internet, and network infrastructure. It serves a broad customer base that includes residential subscribers, businesses, government agencies and wholesale partners, offering connectivity across urban and rural areas of Indonesia.

Telkom’s product and service portfolio spans consumer broadband and digital entertainment, enterprise ICT solutions, managed network services, data center and cloud platforms, and wholesale international connectivity.