PLDT (NYSE:PHI) Downgraded by StockNews.com to Buy

PLDT (NYSE:PHI) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

PLDT Stock Up 0.4 %

NYSE:PHI traded up $0.10 during trading hours on Friday, hitting $24.12. The stock had a trading volume of 21,464 shares, compared to its average volume of 50,435. PLDT has a 1-year low of $21.94 and a 1-year high of $30.39. The company has a market cap of $5.33 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 1.28 and a beta of 0.67. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 2.21. The business has a 50 day simple moving average of $26.38 and a two-hundred day simple moving average of $25.57.

PLDT (NYSE:PHI) last released its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.67 earnings per share for the quarter. The business had revenue of $923.00 million during the quarter. PLDT had a net margin of 12.33% and a return on equity of 21.49%. Analysts predict that PLDT will post 2.76 EPS for the current year.

Institutional Investors Weigh In On PLDT

Several hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in PLDT in the third quarter valued at approximately $28,000. GAMMA Investing LLC raised its stake in shares of PLDT by 48.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,198 shares of the technology company’s stock valued at $32,000 after acquiring an additional 390 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in PLDT by 141.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,396 shares of the technology company’s stock worth $33,000 after purchasing an additional 819 shares during the last quarter. SageView Advisory Group LLC acquired a new position in PLDT during the first quarter valued at approximately $62,000. Finally, Blue Trust Inc. raised its position in shares of PLDT by 392.6% in the second quarter. Blue Trust Inc. now owns 4,709 shares of the technology company’s stock valued at $116,000 after purchasing an additional 3,753 shares during the period. 2.26% of the stock is owned by hedge funds and other institutional investors.

PLDT Company Profile

PLDT Inc provides telecommunications and digital services in the Philippines. The company operates through three segments: Wireless, Fixed Line, and Others. It offers cellular mobile, Internet broadband distribution, operations support, software development, and satellite information and messaging services; and sells Wi-Fi access equipment.