PLDT (NYSE:PHI) Shares Gap Down – Here’s Why

Shares of PLDT Inc. (NYSE:PHI) gapped down prior to trading on Wednesday . The stock had previously closed at $21.73, but opened at $21.07. PLDT shares last traded at $21.18, with a volume of 10,052 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of PLDT in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, PLDT currently has an average rating of “Hold”.

PLDT Stock Down 1.5%

The stock has a 50 day moving average price of $22.89 and a 200 day moving average price of $21.33. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.37 and a current ratio of 0.38. The company has a market capitalization of $4.62 billion, a P/E ratio of 8.84 and a beta of 0.68.

PLDT (NYSE:PHI) last posted its quarterly earnings results on Thursday, February 26th. The technology company reported $0.36 earnings per share for the quarter. PLDT had a net margin of 13.78% and a return on equity of 28.11%. The company had revenue of $905.99 million during the quarter. Equities research analysts forecast that PLDT Inc. will post 2.76 earnings per share for the current fiscal year.

PLDT Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.7977 per share. This represents a dividend yield of 755.0%. The ex-dividend date of this dividend is Wednesday, March 25th. PLDT’s dividend payout ratio is currently 50.41%.

Institutional Investors Weigh In On PLDT

A number of hedge funds have recently modified their holdings of PHI. American Century Companies Inc. raised its stake in shares of PLDT by 25.7% in the second quarter. American Century Companies Inc. now owns 151,779 shares of the technology company’s stock valued at $3,303,000 after buying an additional 31,022 shares during the period. Envestnet Asset Management Inc. bought a new position in shares of PLDT during the 2nd quarter worth $275,000. MAI Capital Management purchased a new stake in PLDT in the 2nd quarter worth about $65,000. PNC Financial Services Group Inc. increased its holdings in PLDT by 46.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 19,442 shares of the technology company’s stock worth $423,000 after acquiring an additional 6,163 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new stake in PLDT in the 4th quarter valued at about $336,000. 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.