PLDT (NYSE:PHI) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• PLDT Inc. shares crossed above their 200-day moving average, trading as high as $23.20 before settling at $22.97, while the stock has a market cap of $4.96 billion.
• Wall Street analysts have recently downgraded PLDT from a "buy" rating to a "hold" rating, reflecting mixed sentiment about the stock's future performance.
• PLDT reported quarterly earnings of $0.71 per share, missing the consensus estimate by $0.02, with expected earnings per share of 2.76 for the current fiscal year.

PLDT Inc. (NYSE:PHI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.76 and traded as high as $23.20. PLDT shares last traded at $22.97, with a volume of 127,110 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of PLDT from a "buy" rating to a "hold" rating in a research report on Friday, June 6th.

PLDT Stock Performance

The stock has a market cap of $5.03 billion, a P/E ratio of 9.21, a PEG ratio of 1.02 and a beta of 0.71. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.36 and a quick ratio of 0.35. The firm's 50-day moving average price is $22.24 and its 200-day moving average price is $22.76.

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 the consensus estimate of $0.73 by ($0.02). PLDT had a return on equity of 29.66% and a net margin of 14.48%. The business had revenue of $991.52 million during the quarter. Sell-side analysts expect that PLDT Inc. will post 2.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PLDT

Large investors have recently bought and sold shares of the business. Invesco Ltd. increased its position in PLDT by 19.8% during the fourth quarter. Invesco Ltd. now owns 1,536,883 shares of the technology company's stock valued at $34,042,000 after acquiring an additional 254,110 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of PLDT during the first quarter valued at $5,891,000. Northern Trust Corp boosted its stake in shares of PLDT by 1,189.5% during the fourth quarter. Northern Trust Corp now owns 138,992 shares of the technology company's stock valued at $3,079,000 after purchasing an additional 128,213 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of PLDT by 14.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 120,974 shares of the technology company's stock valued at $2,646,000 after purchasing an additional 15,610 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of PLDT by 9.5% during the first quarter. American Century Companies Inc. now owns 120,757 shares of the technology company's stock valued at $2,641,000 after purchasing an additional 10,505 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.