PLDT (NYSE:PHI) Reaches New 52-Week Low - Should You Sell?

Key Points

• PLDT Inc. has reached a new 52-week low of $19.53, with analysts giving the stock an average rating of "Reduce" amid a recent downgrade from several firms, including UBS Group and Zacks Research.
• The company has announced a semi-annual dividend of $0.8414 per share, an increase from the previous $0.81, indicating a strong dividend yield of 530.0%.
• Institutional investors have increased their stakes in PLDT significantly, with Northern Trust Corp raising its position by 1,189.5% in the last quarter, reflecting increased confidence among some investors despite the stock's decline.

Shares of PLDT Inc. (NYSE:PHI - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $19.53 and last traded at $19.57, with a volume of 254057 shares. The stock had previously closed at $20.48.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PHI. Zacks Research raised shares of PLDT to a "strong sell" rating in a research note on Tuesday, August 12th. Wall Street Zen downgraded shares of PLDT from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, UBS Group downgraded shares of PLDT from a "buy" rating to a "neutral" rating in a research note on Wednesday, August 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, PLDT currently has a consensus rating of "Reduce".

PLDT Stock Down 0.1%

The company has a market cap of $4.21 billion, a P/E ratio of 7.52, a P/E/G ratio of 1.72 and a beta of 0.66. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.37 and a quick ratio of 0.35. The company's 50-day moving average is $22.19 and its two-hundred day moving average is $22.59.

PLDT Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, August 27th will be issued a $0.8414 dividend. This is an increase from PLDT's previous semi-annual dividend of $0.81. This represents a yield of 530.0%. The ex-dividend date is Wednesday, August 27th. PLDT's dividend payout ratio is 47.10%.

Institutional Investors Weigh In On PLDT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC purchased a new stake in PLDT in the second quarter worth approximately $201,000. Vident Advisory LLC boosted its holdings in PLDT by 22.0% in the second quarter. Vident Advisory LLC now owns 76,885 shares of the technology company's stock worth $1,673,000 after purchasing an additional 13,877 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in PLDT by 46.9% in the second quarter. Quantinno Capital Management LP now owns 44,836 shares of the technology company's stock worth $976,000 after purchasing an additional 14,324 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in PLDT by 155.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,069 shares of the technology company's stock worth $67,000 after purchasing an additional 1,866 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in PLDT by 4.2% in the second quarter. Invesco Ltd. now owns 1,488,014 shares of the technology company's stock worth $32,379,000 after purchasing an additional 59,763 shares during the last quarter. Hedge funds and other 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.