PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded PT Telekomunikasi Indonesia, Tbk (NYSE: TLK) from "strong sell" to "hold", while Weiss Ratings also nudged its view higher from "sell (d)" to "sell (d+)".
• The stock opened at $14.13 and is trading below both its 50-day average of $15.50 and 200-day average of $18.32, with a market cap of about $13.99 billion.
• Telkom Indonesia reported $0.26 EPS on $2.19 billion in quarterly revenue, and analysts expect the company to earn 2.04 EPS for the full year.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings upgraded shares of PT Telekomunikasi Indonesia, Tbk from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce".

PT Telekomunikasi Indonesia, Tbk Stock Performance

Shares of TLK opened at $14.13 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The firm has a market cap of $13.99 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.55 and a beta of 0.37. The company's 50 day simple moving average is $15.50 and its 200-day simple moving average is $18.32. PT Telekomunikasi Indonesia, Tbk has a 12-month low of $13.23 and a 12-month high of $23.51.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) last announced its earnings results on Saturday, May 16th. The utilities provider reported $0.26 EPS for the quarter. The business had revenue of $2.19 billion for the quarter. PT Telekomunikasi Indonesia, Tbk had a net margin of 11.10% and a return on equity of 10.75%. As a group, equities analysts predict that PT Telekomunikasi Indonesia, Tbk will post 2.04 EPS for the current year.

Hedge Funds Weigh In On PT Telekomunikasi Indonesia, Tbk

Institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC raised its holdings in PT Telekomunikasi Indonesia, Tbk by 23.4% during the first quarter. Lazard Asset Management LLC now owns 25,129,891 shares of the utilities provider's stock worth $469,426,000 after purchasing an additional 4,770,126 shares in the last quarter. Northcape Capital Pty Ltd boosted its holdings in PT Telekomunikasi Indonesia, Tbk by 111.4% in the 4th quarter. Northcape Capital Pty Ltd now owns 1,256,211 shares of the utilities provider's stock valued at $27,222,000 after purchasing an additional 662,110 shares in the last quarter. Dimensional Fund Advisors LP increased its position in PT Telekomunikasi Indonesia, Tbk by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 693,271 shares of the utilities provider's stock worth $12,932,000 after purchasing an additional 2,524 shares during the period. Bank of America Corp DE increased its position in PT Telekomunikasi Indonesia, Tbk by 11.7% during the 1st quarter. Bank of America Corp DE now owns 565,985 shares of the utilities provider's stock worth $10,573,000 after purchasing an additional 59,123 shares during the period. Finally, Ramirez Asset Management Inc. raised its stake in shares of PT Telekomunikasi Indonesia, Tbk by 1.8% during the 4th quarter. Ramirez Asset Management Inc. now owns 545,405 shares of the utilities provider's stock worth $11,481,000 after buying an additional 9,577 shares in the last quarter.

About PT Telekomunikasi Indonesia, Tbk

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia's largest integrated telecommunications provider. The company's core operations encompass the provision of fixed-line and mobile voice services, broadband internet, and network infrastructure. It serves a broad customer base that includes residential subscribers, businesses, government agencies and wholesale partners, offering connectivity across urban and rural areas of Indonesia.

Telkom's product and service portfolio spans consumer broadband and digital entertainment, enterprise ICT solutions, managed network services, data center and cloud platforms, and wholesale international connectivity.

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