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

Key Points

• PLDT has been upgraded to a "strong sell" rating by Zacks Research, indicating a significant bearish outlook from investment analysts.
• The company's stock performance shows a market capitalization of $4.89 billion and a P/E ratio of 8.73, with shares recently trading at $22.62.
• PLDT recently reported earnings of $0.71 per share, missing the consensus estimate of $0.73, pointing to potential challenges in meeting investor expectations.

Zacks Research upgraded shares of PLDT (NYSE:PHI - Free Report) to a strong sell rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

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

PLDT Stock Up 0.8%

Shares of NYSE PHI traded up $0.17 during trading on Tuesday, reaching $22.81. 41,434 shares of the stock were exchanged, compared to its average volume of 60,347. The business's 50-day moving average price is $22.31 and its 200 day moving average price is $22.79. PLDT has a twelve month low of $20.29 and a twelve month high of $29.05. The company has a quick ratio of 0.35, a current ratio of 0.37 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 2.02 and a beta of 0.71.

PLDT (NYSE:PHI - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The technology company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.02). The company had revenue of $991.52 million during the quarter. PLDT had a net margin of 14.67% and a return on equity of 28.96%. As a group, equities analysts forecast that PLDT will post 2.76 EPS for the current fiscal year.

PLDT Increases Dividend

The business also recently declared 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 a boost from PLDT's previous semi-annual dividend of $0.81. This represents a yield of 530.0%. The ex-dividend date of this dividend is Wednesday, August 27th. PLDT's dividend payout ratio is currently 45.95%.

Institutional Trading of PLDT

Several institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its holdings in shares of PLDT by 4.2% during 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 period. Crossmark Global Holdings Inc. acquired a new stake in shares of PLDT during the first quarter worth $5,891,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of PLDT by 20.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 181,574 shares of the technology company's stock worth $3,951,000 after purchasing an additional 30,803 shares during the period. American Century Companies Inc. raised its holdings in shares of PLDT by 25.7% during the second quarter. American Century Companies Inc. now owns 151,779 shares of the technology company's stock worth $3,303,000 after purchasing an additional 31,022 shares during the period. Finally, Northern Trust Corp raised its holdings 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 worth $3,079,000 after purchasing an additional 128,213 shares during the period. 2.26% of the stock is owned by institutional investors and hedge funds.

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.