StockNews.com Downgrades PLDT (NYSE:PHI) to Buy

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 on Monday.

PLDT Stock Down 2.6 %

NYSE PHI traded down $0.72 during trading hours on Monday, hitting $26.74. 28,538 shares of the company traded hands, compared to its average volume of 52,624. The business’s 50-day moving average is $26.94 and its 200-day moving average is $25.29. PLDT has a twelve month low of $20.27 and a twelve month high of $30.39. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.32 and a current ratio of 0.33. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 8.91, a P/E/G ratio of 1.41 and a beta of 0.67.

PLDT (NYSE:PHI) last announced its earnings results on Tuesday, August 13th. The technology company reported $0.67 earnings per share for the quarter. PLDT had a return on equity of 21.49% and a net margin of 12.33%. The company had revenue of $923.00 million for the quarter. Sell-side analysts anticipate that PLDT will post 2.76 earnings per share for the current year.

Hedge Funds Weigh In On PLDT

A number of hedge funds have recently added to or reduced their stakes in PHI. American Century Companies Inc. boosted its holdings in shares of PLDT by 10.9% in the 2nd quarter. American Century Companies Inc. now owns 93,479 shares of the technology company’s stock valued at $2,296,000 after purchasing an additional 9,206 shares in the last quarter. Creative Planning boosted its holdings in shares of PLDT by 19.6% during the 2nd quarter. Creative Planning now owns 56,050 shares of the technology company’s stock valued at $1,377,000 after acquiring an additional 9,169 shares in the last quarter. Oldfield Partners LLP boosted its holdings in shares of PLDT by 1.1% during the 2nd quarter. Oldfield Partners LLP now owns 45,000 shares of the technology company’s stock valued at $1,105,000 after acquiring an additional 500 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of PLDT by 337.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 37,877 shares of the technology company’s stock valued at $934,000 after acquiring an additional 29,225 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its holdings in shares of PLDT by 80.2% during the 2nd quarter. Kathmere Capital Management LLC now owns 18,887 shares of the technology company’s stock valued at $464,000 after acquiring an additional 8,408 shares in the last quarter. 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.