PLDT (PHI) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of PLDT (NYSE:PHI) from a sell rating to a hold rating in a report issued on Tuesday.
According to Zacks, “PLDT Inc. offers telecommunications services. Its operating segment consists of Wireless, Fixed Line and Others. Wireless segment provides cellular, wireless broadband and other services, and digital platforms and mobile financial services. Fixed Line segment provides local exchange, international long distance, national long distance, data and other network and miscellaneous services. It offers postpaid and prepaid fixed line services. PLDT, Inc., formerly known as Philippine Long Distance Telephone Company, is based in Makati City, the Philippines. “
Other research analysts have also issued research reports about the stock. Jefferies Financial Group lowered shares of PLDT from a buy rating to a hold rating in a research note on Wednesday, May 16th. CLSA upgraded shares of PLDT from an underperform rating to a buy rating in a research note on Monday, June 18th. Finally, HSBC lowered shares of PLDT from a buy rating to a reduce rating in a research note on Friday, May 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $33.00.
PLDT (NYSE:PHI) last announced its quarterly earnings results on Thursday, August 9th. The technology company reported $0.62 EPS for the quarter. PLDT had a net margin of 5.24% and a return on equity of 20.18%. The business had revenue of $797.08 million for the quarter. equities analysts expect that PLDT will post 2.16 earnings per share for the current year.
Several large investors have recently made changes to their positions in PHI. Renaissance Technologies LLC grew its position in shares of PLDT by 3.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,581,100 shares of the technology company’s stock worth $60,346,000 after purchasing an additional 87,700 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of PLDT by 10.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 422,244 shares of the technology company’s stock worth $9,863,000 after purchasing an additional 40,292 shares in the last quarter. Royal Bank of Canada grew its position in shares of PLDT by 19.3% during the 1st quarter. Royal Bank of Canada now owns 247,662 shares of the technology company’s stock worth $7,026,000 after purchasing an additional 40,078 shares in the last quarter. BlackRock Inc. acquired a new position in shares of PLDT during the 2nd quarter worth approximately $908,000. Finally, Millennium Management LLC acquired a new position in shares of PLDT during the 4th quarter worth approximately $948,000. Hedge funds and other institutional investors own 6.68% of the company’s stock.
PLDT Inc operates as a telecommunications company in the Philippines. The company's Wireless segment offers cellular mobile, Internet broadband distribution, operations support, mobile applications and digital platforms development, mobile payment, solutions and systems integration, satellite communications, and satellite information and messaging services.
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