PLDT (NYSE:PHI) Sets New 52-Week Low - Here's What Happened

Key Points

• PLDT Inc. shares hit a new 52-week low of $19.06 during trading, down from a previous close of $19.25, with a trading volume of 8,619 shares.
• Recent analyst ratings have been largely negative, with Zacks Research issuing a "strong sell" rating and Wall Street Zen downgrading from "buy" to "hold."
• PLDT recently declared a semi-annual dividend of $0.8414 per share, marking an increase from its previous dividend, which reflects a substantial yield of 530.0%.

Shares of PLDT Inc. (NYSE:PHI - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $19.06 and last traded at $19.06, with a volume of 8619 shares. The stock had previously closed at $19.25.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Zacks Research raised PLDT to a "strong sell" rating in a research note on Tuesday, August 12th. Wall Street Zen lowered PLDT from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, UBS Group lowered PLDT from a "buy" rating to a "neutral" rating in a research note on Wednesday, August 27th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce".

PLDT Price Performance

The business has a 50-day simple moving average of $21.54 and a 200 day simple moving average of $22.23. The firm has a market cap of $4.10 billion, a P/E ratio of 7.32, a price-to-earnings-growth ratio of 1.74 and a beta of 0.66. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.35 and a current ratio of 0.37.

PLDT Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, August 27th were given a dividend of $0.8414 per share. This represents a yield of 530.0%. The ex-dividend date of this dividend was Wednesday, August 27th. This is a positive change from PLDT's previous semi-annual dividend of $0.81. PLDT's dividend payout ratio is currently 47.10%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in PLDT by 51.7% during the 1st quarter. GAMMA Investing LLC now owns 2,201 shares of the technology company's stock valued at $48,000 after purchasing an additional 750 shares during the last quarter. MAI Capital Management purchased a new position in shares of PLDT during the 2nd quarter worth approximately $65,000. EverSource Wealth Advisors LLC grew its holdings in shares of PLDT by 155.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,069 shares of the technology company's stock worth $67,000 after acquiring an additional 1,866 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of PLDT by 759.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 3,774 shares of the technology company's stock worth $82,000 after acquiring an additional 3,335 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of PLDT by 49.4% during the 4th quarter. BNP Paribas Financial Markets now owns 4,396 shares of the technology company's stock worth $97,000 after acquiring an additional 1,453 shares during the period. 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.

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