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

Key Points

• PLDT shares fell to a new 52-week low, trading as low as $16.75 and last changing hands around $17.17, down 1.4% on the day.
• Analyst sentiment is broadly neutral: four analysts rate the stock “Hold,” with recent actions including JPMorgan downgrading it to neutral and Zacks upgrading it from strong sell to hold.
• PLDT reduced its dividend to $0.7515 per share from $0.7977, while the company’s high leverage and weak liquidity ratios remain notable financial considerations.

Shares of PLDT Inc. (NYSE:PHI - Get Free Report) reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $16.75 and last traded at $17.1720, with a volume of 16693 shares. The stock had previously closed at $17.45.

Analyst Ratings Changes

A number of equities analysts have commented on PHI shares. Zacks Research raised PLDT from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. JPMorgan Chase & Co. cut PLDT from an "overweight" rating to a "neutral" rating in a research report on Monday, August 17th. Weiss Ratings lowered PLDT from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, August 31st. Finally, TD Cowen reaffirmed a "hold" rating on shares of PLDT in a research note on Thursday, August 13th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, PLDT presently has a consensus rating of "Hold".

PLDT Stock Down 1.4%

The company has a quick ratio of 0.43, a current ratio of 0.44 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $3.72 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 2.69 and a beta of 0.56. The business has a 50-day moving average price of $18.93 and a 200-day moving average price of $19.37.

PLDT Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, August 27th will be given a dividend of $0.7515 per share. This represents a dividend yield of 841.0%. The ex-dividend date of this dividend is Thursday, August 27th. This is a negative change from PLDT's previous dividend of $0.7977. PLDT's dividend payout ratio is presently 49.10%.

Institutional Investors Weigh In On PLDT

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in PLDT by 1.3% during the first quarter. Renaissance Technologies LLC now owns 2,327,067 shares of the technology company's stock worth $48,961,000 after acquiring an additional 29,024 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of PLDT by 47.0% in the 1st quarter. Quantinno Capital Management LP now owns 121,103 shares of the technology company's stock valued at $2,548,000 after acquiring an additional 38,731 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of PLDT by 24.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 26,494 shares of the technology company's stock valued at $557,000 after acquiring an additional 5,205 shares during the period. Engineers Gate Manager LP lifted its holdings in shares of PLDT by 40.3% in the 2nd quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company's stock worth $401,000 after acquiring an additional 6,572 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of PLDT by 40.8% in the 1st quarter. First Trust Advisors LP now owns 17,926 shares of the technology company's stock worth $377,000 after acquiring an additional 5,197 shares during the last quarter. 2.26% of the stock is currently owned by institutional investors and hedge funds.

About PLDT

PLDT Inc is a Philippine telecommunications and digital services company headquartered in Makati City, Philippines. Formerly known as the Philippine Long Distance Telephone Company, it traces its history to 1928 and has developed into one of the country's leading providers of fixed-line, wireless, broadband and enterprise communications services.

Through its principal wireless subsidiary, Smart Communications, PLDT provides mobile voice, messaging, data and broadband services under the Smart and TNT brands.

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