StockNews.com Downgrades Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) to Hold

StockNews.com downgraded shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) from a buy rating to a hold rating in a research note published on Monday.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Trading Up 0.6 %

Shares of TLK stock opened at $20.62 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.65 and a debt-to-equity ratio of 0.16. Perusahaan Perseroan has a 52-week low of $16.62 and a 52-week high of $26.85. The business’s fifty day moving average is $19.11 and its 200 day moving average is $19.80.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) last released its quarterly earnings results on Monday, July 29th. The utilities provider reported $0.36 earnings per share for the quarter. Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk had a return on equity of 15.39% and a net margin of 15.65%. The business had revenue of $2.35 billion for the quarter. Equities research analysts forecast that Perusahaan Perseroan will post 1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

A number of large investors have recently added to or reduced their stakes in TLK. Allspring Global Investments Holdings LLC grew its stake in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 12.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,567,419 shares of the utilities provider’s stock valued at $85,411,000 after buying an additional 492,128 shares during the last quarter. Northcape Capital Pty Ltd grew its stake in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 75.1% during the first quarter. Northcape Capital Pty Ltd now owns 572,516 shares of the utilities provider’s stock valued at $12,744,000 after buying an additional 245,573 shares during the last quarter. Millennium Management LLC grew its stake in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 268.1% during the second quarter. Millennium Management LLC now owns 316,621 shares of the utilities provider’s stock valued at $5,921,000 after buying an additional 230,613 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk during the second quarter valued at about $2,301,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk during the second quarter valued at about $2,163,000.

About Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides information and communications technology, and telecommunications network services worldwide. The company operates through mobile, consumer, enterprise, Wholesale and International Business, and Other segments. The Mobile segment offers mobile voice, SMS, value added services, and mobile broadband services.