PLDT (NYSE:PHI) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of PLDT (NYSE:PHI) from a strong-buy rating to a buy rating in a research report report published on Friday.

PLDT Stock Performance

Shares of PHI traded up $0.10 during midday trading on Friday, reaching $24.12. 22,493 shares of the stock were exchanged, compared to its average volume of 50,435. The stock’s 50 day simple moving average is $26.38 and its 200 day simple moving average is $25.57. The company has a market cap of $5.21 billion, a P/E ratio of 9.06, a PEG ratio of 1.28 and a beta of 0.69. PLDT has a twelve month low of $21.94 and a twelve month high of $30.39. The company has a quick ratio of 0.32, a current ratio of 0.33 and a debt-to-equity ratio of 2.21.

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

PLDT Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Monday, August 26th were paid a dividend of $0.634 per share. This is an increase from PLDT’s previous Semi-Annual dividend of $0.60. The ex-dividend date of this dividend was Monday, August 26th. This represents a yield of 4.4%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PHI. Allspring Global Investments Holdings LLC bought a new position in PLDT during the 3rd quarter worth approximately $28,000. GAMMA Investing LLC lifted its stake in shares of PLDT by 48.3% in the third quarter. GAMMA Investing LLC now owns 1,198 shares of the technology company’s stock valued at $32,000 after buying an additional 390 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of PLDT by 141.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,396 shares of the technology company’s stock valued at $33,000 after buying an additional 819 shares during the last quarter. SageView Advisory Group LLC acquired a new position in PLDT during the 1st quarter valued at about $62,000. Finally, Blue Trust Inc. increased its holdings in PLDT by 392.6% during the 2nd quarter. Blue Trust Inc. now owns 4,709 shares of the technology company’s stock worth $116,000 after purchasing an additional 3,753 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.