PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Stock Rating Lowered by Zacks Research

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings downgraded shares of PT Telekomunikasi Indonesia, Tbk from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

PT Telekomunikasi Indonesia, Tbk Stock Down 1.7%

Shares of NYSE TLK opened at $16.56 on Thursday. The company has a 50 day simple moving average of $18.00 and a 200-day simple moving average of $20.08. The company has a market capitalization of $16.40 billion, a P/E ratio of 12.27, a P/E/G ratio of 4.50 and a beta of 0.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.76. PT Telekomunikasi Indonesia, Tbk has a 1 year low of $15.63 and a 1 year high of $23.51.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) last posted its earnings results on Wednesday, May 20th. The utilities provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.65. PT Telekomunikasi Indonesia, Tbk had a net margin of 14.78% and a return on equity of 13.86%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.30 billion. On average, equities research analysts predict that PT Telekomunikasi Indonesia, Tbk will post 1.39 earnings per share for the current year.

Institutional Investors Weigh In On PT Telekomunikasi Indonesia, Tbk

Several institutional investors have recently modified their holdings of TLK. Brown Brothers Harriman & Co. lifted its position in shares of PT Telekomunikasi Indonesia, Tbk by 828.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,319 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 1,177 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the 2nd quarter worth $25,000. First Horizon Corp purchased a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the 3rd quarter worth $26,000. Kestra Advisory Services LLC purchased a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the 4th quarter worth $36,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of PT Telekomunikasi Indonesia, Tbk by 70.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,222 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 921 shares during the last quarter.

About PT Telekomunikasi Indonesia, Tbk

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia’s largest integrated telecommunications provider. The company’s core operations encompass the provision of fixed-line and mobile voice services, broadband internet, and network infrastructure. It serves a broad customer base that includes residential subscribers, businesses, government agencies and wholesale partners, offering connectivity across urban and rural areas of Indonesia.

Telkom’s product and service portfolio spans consumer broadband and digital entertainment, enterprise ICT solutions, managed network services, data center and cloud platforms, and wholesale international connectivity.