PLDT (NYSE:PHI) Shares Gap Down - Time to Sell?

Key Points

• PLDT shares fell sharply, opening at $18.51 after closing at $19.37 and later trading near $18.13.
• Analyst sentiment remains cautious: JPMorgan downgraded PLDT to “neutral,” while three other firms maintained or upgraded it to “hold.” MarketBeat reports a consensus “Hold” rating.
• PLDT announced a $0.7515-per-share dividend, while the company trades at a P/E ratio of 8.10 and institutional investors own just 2.26% of its stock.

PLDT Inc. (NYSE:PHI - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $19.37, but opened at $18.51. PLDT shares last traded at $18.1260, with a volume of 7,935 shares traded.

Wall Street Analyst Weigh In

PHI has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered shares of PLDT from an "overweight" rating to a "neutral" rating in a report on Monday, August 17th. Zacks Research upgraded PLDT from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Weiss Ratings raised PLDT from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 14th. Finally, TD Cowen reaffirmed a "hold" rating on shares of PLDT in a report on Thursday, August 13th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, PLDT has a consensus rating of "Hold".

PLDT Price Performance

The firm has a market capitalization of $3.88 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 2.97 and a beta of 0.60. The business has a fifty day moving average of $18.99 and a 200-day moving average of $20.22. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.43 and a current ratio of 0.44.

PLDT Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, August 27th will be paid a dividend of $0.7515 per share. The ex-dividend date of this dividend is Thursday, August 27th. This represents a yield of 837.0%. PLDT's dividend payout ratio (DPR) is presently 48.65%.

Institutional Trading of PLDT

Institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in PLDT during the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC boosted its holdings in shares of PLDT by 272.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,306 shares of the technology company's stock worth $28,000 after buying an additional 955 shares during the period. Arax Advisory Partners increased its position in shares of PLDT by 429.4% in the fourth 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 in the last quarter. CWM LLC lifted its position in shares of 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 in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in 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 purchasing an additional 1,866 shares in the last quarter. 2.26% of the stock is owned by institutional investors and hedge funds.

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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