PLDT (NYSE:PHI) Shares Up 3% - What's Next?

Key Points

• PLDT shares rose 3% to $18.64, although trading volume was 41% below the average daily level.
• Analyst sentiment remains cautious: four analysts rate the stock “Hold,” with JPMorgan downgrading it to neutral and Zacks Research upgrading it from strong sell to hold.
• PLDT reduced its dividend to $0.7515 from $0.7977; institutional investors increased their holdings, but they own only 2.26% of the company.

PLDT Inc. (NYSE:PHI - Get Free Report)'s stock price rose 3% during trading on Wednesday. The stock traded as high as $18.58 and last traded at $18.64. 85,839 shares were traded during trading, a decline of 41% from the average daily volume of 144,425 shares. The stock had previously closed at $18.09.

Wall Street Analyst Weigh In

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

PLDT Trading Up 2.8%

The company has a current ratio of 0.44, a quick ratio of 0.43 and a debt-to-equity ratio of 1.98. The firm has a 50-day moving average price of $18.58 and a 200-day moving average price of $19.13. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 2.75 and a beta of 0.64.

PLDT Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, September 25th. Shareholders of record on Thursday, August 27th were issued a $0.7515 dividend. This represents a yield of 841.0%. The ex-dividend date of this dividend was Thursday, August 27th. This is a negative change from PLDT's previous dividend of $0.7977. PLDT's dividend payout ratio is currently 49.10%.

Institutional Trading of PLDT

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

PLDT Company Profile

PLDT Inc is a Philippine telecommunications and digital services company headquartered in Makati City, Philippines. Established in 1928, the company has developed from a traditional fixed-line telephone provider into an integrated communications business serving consumers, enterprises and government organizations across the Philippines.

Through its PLDT brand, the company provides fixed-line voice services, home and enterprise broadband, fiber connectivity, data transmission and information and communications technology solutions.

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