PLDT (NYSE:PHI) Cut to Buy at StockNews.com

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

PLDT Trading Down 1.2 %

Shares of NYSE PHI opened at $24.18 on Thursday. PLDT has a 1-year low of $19.02 and a 1-year high of $30.39. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.36 and a quick ratio of 0.34. The business’s 50 day moving average is $23.69 and its two-hundred day moving average is $22.88. The stock has a market capitalization of $5.22 billion, a P/E ratio of 27.48, a PEG ratio of 1.30 and a beta of 0.60.

Institutional Investors Weigh In On PLDT

Several institutional investors have recently made changes to their positions in PHI. Deutsche Bank AG bought a new position in shares of PLDT during the third quarter valued at approximately $880,000. Citigroup Inc. increased its stake in PLDT by 10.9% in the third quarter. Citigroup Inc. now owns 26,649 shares of the technology company’s stock worth $551,000 after purchasing an additional 2,627 shares during the period. Ballentine Partners LLC purchased a new stake in PLDT in the fourth quarter worth $277,000. Blue Trust Inc. lifted its position in shares of PLDT by 291.5% during the fourth quarter. Blue Trust Inc. now owns 1,711 shares of the technology company’s stock worth $40,000 after purchasing an additional 1,274 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of PLDT by 5.5% during the third quarter. PNC Financial Services Group Inc. now owns 13,403 shares of the technology company’s stock valued at $277,000 after purchasing an additional 698 shares during the period. Institutional investors own 2.26% of the company’s stock.

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.