PLDT (NYSE:PHI) Shares Gap Down – Should You Sell?

PLDT Inc. (NYSE:PHI) shares gapped down prior to trading on Thursday . The stock had previously closed at $19.37, but opened at $18.51. PLDT shares last traded at $18.1260, with a volume of 7,935 shares changing hands.

Analyst Ratings Changes

Several research firms recently commented on PHI. Zacks Research upgraded shares of PLDT from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. TD Cowen reiterated a “hold” rating on shares of PLDT in a research report on Thursday, August 13th. JPMorgan Chase & Co. lowered shares of PLDT from an “overweight” rating to a “neutral” rating in a research note on Monday, August 17th. Finally, Weiss Ratings upgraded shares of PLDT from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 14th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

PLDT Stock Down 7.2%

The company has a market cap of $3.88 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 2.97 and a beta of 0.60. The business has a 50-day simple moving average of $18.99 and a two-hundred day simple moving average of $20.22. The company has a quick ratio of 0.43, a current ratio of 0.44 and a debt-to-equity ratio of 1.98.

PLDT Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, August 27th will be issued a $0.7515 dividend. This represents a yield of 837.0%. The ex-dividend date is Thursday, August 27th. PLDT’s payout ratio is 48.65%.

Hedge Funds Weigh In On PLDT

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its stake in shares of PLDT by 1.3% in the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company’s stock worth $48,961,000 after buying an additional 29,024 shares during the last quarter. Invesco Ltd. raised its holdings in PLDT by 14.1% in the 3rd quarter. Invesco Ltd. now owns 1,697,399 shares of the technology company’s stock worth $31,741,000 after acquiring an additional 209,385 shares during the period. Crossmark Global Holdings Inc. raised its holdings in PLDT by 1.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 473,536 shares of the technology company’s stock worth $10,295,000 after acquiring an additional 5,214 shares during the period. UBS Group AG lifted its position in PLDT by 41.4% during the 3rd quarter. UBS Group AG now owns 251,013 shares of the technology company’s stock worth $4,694,000 after acquiring an additional 73,439 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in PLDT by 20.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 181,574 shares of the technology company’s stock valued at $3,951,000 after acquiring an additional 30,803 shares during the period. Institutional investors 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.