PLDT (NYSE:PHI) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded PLDT from a “strong sell” to a “hold” rating, while Weiss Ratings also lowered its view slightly to “hold (c-)”; overall, the stock’s consensus analyst rating remains Hold.
• PLDT reported better-than-expected quarterly earnings, posting $0.71 EPS versus the $0.67 estimate and revenue of $932.8 million versus $913.26 million expected.
• The stock opened at $19.70 and the company shows mixed valuation and balance-sheet metrics, including a debt-to-equity ratio of 2.10 and a market cap of about $4.26 billion.

PLDT (NYSE:PHI - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Weiss Ratings cut shares of PLDT from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, June 3rd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

PLDT Stock Performance

PHI opened at $19.70 on Monday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.42. PLDT has a 52-week low of $17.05 and a 52-week high of $24.51. The firm has a market cap of $4.26 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 2.96 and a beta of 0.61. The business's fifty day moving average is $18.40 and its 200-day moving average is $20.74.

PLDT (NYSE:PHI - Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The technology company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.04. The business had revenue of $932.80 million during the quarter, compared to the consensus estimate of $913.26 million. PLDT had a return on equity of 27.37% and a net margin of 13.62%. Sell-side analysts expect that PLDT will post 2.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in PLDT in the 4th quarter valued at approximately $26,000. Farther Finance Advisors LLC grew its holdings in PLDT by 272.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,306 shares of the technology company's stock worth $28,000 after acquiring an additional 955 shares during the last quarter. Arax Advisory Partners grew its holdings in PLDT by 429.4% during the 4th quarter. Arax Advisory Partners now owns 1,710 shares of the technology company's stock worth $37,000 after acquiring an additional 1,387 shares during the last quarter. CWM LLC increased its position in PLDT by 22.1% in the 4th quarter. CWM LLC now owns 2,590 shares of the technology company's stock valued at $56,000 after acquiring an additional 469 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in PLDT by 155.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,069 shares of the technology company's stock valued at $67,000 after acquiring an additional 1,866 shares during the period. Institutional investors and hedge funds own 2.26% of the company's stock.

PLDT Company Profile

Philippine Long Distance Telephone Company (PLDT) is the largest integrated telecommunications provider in the Philippines, offering a comprehensive suite of fixed‐line, wireless, broadband Internet, and digital solutions to residential, enterprise, and government customers. Founded in 1928, PLDT has played a pivotal role in the development of the country's communications infrastructure, evolving from a traditional operator of long‐distance telephone lines into a diversified digital services provider.

PLDT operates two main business segments: its fixed‐line and broadband operations under the PLDT brand and its wireless services through subsidiary Smart Communications.

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