PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded PT Telekomunikasi Indonesia from “hold” to “strong sell,” while MarketBeat data shows a consensus “sell” rating from analysts.
• TLK shares opened at $14.99, near the lower end of their 52-week range of $13.23 to $23.51. The company has a market capitalization of approximately $14.85 billion and a P/E ratio of 14.42.
• Several institutional investors recently initiated or increased their positions, including Brown Brothers Harriman, which raised its holdings by 828.9%, and Smartleaf Asset Management, which increased its stake by 70.8%.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Wednesday, Zacks reports.

A number of other research analysts also recently weighed in on the company. Wall Street Zen raised PT Telekomunikasi Indonesia, Tbk from a "hold" rating to a "buy" rating in a research note on Saturday, September 5th. Weiss Ratings cut PT Telekomunikasi Indonesia, Tbk from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of "Sell".

PT Telekomunikasi Indonesia, Tbk Trading Down 0.0%

Shares of NYSE TLK opened at $14.99 on Wednesday. PT Telekomunikasi Indonesia, Tbk has a fifty-two week low of $13.23 and a fifty-two week high of $23.51. The firm has a market capitalization of $14.85 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.98 and a beta of 0.35. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.79 and a quick ratio of 0.78. The company's 50 day simple moving average is $14.63 and its 200 day simple moving average is $16.39.

Hedge Funds Weigh In On PT Telekomunikasi Indonesia, Tbk

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. increased its position in shares of PT Telekomunikasi Indonesia, Tbk by 828.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,319 shares of the utilities provider's stock valued at $25,000 after buying an additional 1,177 shares in the last quarter. Raymond James Financial Inc. acquired a new position in PT Telekomunikasi Indonesia, Tbk in the second quarter valued at about $25,000. Kestra Advisory Services LLC acquired a new position in PT Telekomunikasi Indonesia, Tbk in the fourth quarter valued at about $36,000. Global Retirement Partners LLC acquired a new position in PT Telekomunikasi Indonesia, Tbk in the fourth quarter valued at about $40,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 70.8% in the second quarter. Smartleaf Asset Management LLC now owns 2,222 shares of the utilities provider's stock worth $37,000 after acquiring an additional 921 shares in the last quarter.

About PT Telekomunikasi Indonesia, Tbk

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is an Indonesian telecommunications and information technology company. Through its subsidiaries and business units, the company provides fixed-line and mobile communications, broadband internet, network connectivity, and digital services to consumers, businesses, and government customers.

Telkom's consumer offerings include mobile voice and data services, fixed broadband, pay television, and related digital products.

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