PLDT (NYSE:PHI) Downgraded to "Hold" Rating by Wall Street Zen

PLDT (NYSE:PHI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Friday.

PLDT Trading Down 2.0%

PHI stock traded down $0.45 during midday trading on Friday, hitting $22.41. 70,759 shares of the company's stock were exchanged, compared to its average volume of 54,474. PLDT has a 1-year low of $20.29 and a 1-year high of $29.05. The stock has a market capitalization of $4.84 billion, a PE ratio of 8.86, a P/E/G ratio of 1.14 and a beta of 0.74. The business has a 50-day simple moving average of $22.80 and a two-hundred day simple moving average of $22.80. The company has a current ratio of 0.34, a quick ratio of 0.32 and a debt-to-equity ratio of 2.24.

PLDT (NYSE:PHI - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The technology company reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.02). PLDT had a net margin of 12.34% and a return on equity of 22.11%. The company had revenue of $991.52 million for the quarter. On average, sell-side analysts predict that PLDT will post 2.76 EPS for the current fiscal year.

Institutional Investors Weigh In On PLDT

A number of institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of PLDT by 3.4% in the first quarter. PNC Financial Services Group Inc. now owns 13,279 shares of the technology company's stock valued at $290,000 after buying an additional 437 shares in the last quarter. Signaturefd LLC grew its stake in shares of PLDT by 3.0% in the first quarter. Signaturefd LLC now owns 15,674 shares of the technology company's stock valued at $343,000 after buying an additional 455 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of PLDT by 51.7% in the first quarter. GAMMA Investing LLC now owns 2,201 shares of the technology company's stock valued at $48,000 after buying an additional 750 shares in the last quarter. Vident Advisory LLC grew its stake in shares of PLDT by 2.0% in the fourth quarter. Vident Advisory LLC now owns 42,876 shares of the technology company's stock valued at $950,000 after buying an additional 854 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of PLDT by 9.5% in the first quarter. Sequoia Financial Advisors LLC now owns 12,737 shares of the technology company's stock valued at $279,000 after buying an additional 1,108 shares in the last quarter. 2.26% of the stock is owned by institutional investors and hedge funds.

About PLDT

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.