PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Separately, Weiss Ratings raised shares of PT Telekomunikasi Indonesia, Tbk from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

PT Telekomunikasi Indonesia, Tbk Stock Performance

TLK stock 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 P/E ratio of 14.27, a P/E/G ratio of 2.55 and a beta of 0.37. PT Telekomunikasi Indonesia, Tbk has a 12-month low of $13.23 and a 12-month high of $23.51. The stock’s 50 day simple moving average is $15.50 and its 200 day simple moving average is $18.32.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) last released its earnings results on Saturday, May 16th. The utilities provider reported $0.26 earnings per share for the quarter. The firm had revenue of $2.19 billion during 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 research analysts predict that PT Telekomunikasi Indonesia, Tbk will post 2.04 EPS for the current year.

PT Telekomunikasi Indonesia, Tbk Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, July 20th. Investors of record on Thursday, June 18th will be given a dividend of $1.2214 per share. The ex-dividend date is Thursday, June 18th. This represents a yield of 824.0%. PT Telekomunikasi Indonesia, Tbk’s payout ratio is currently 94.95%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. lifted its stake in PT Telekomunikasi Indonesia, Tbk by 828.9% in the third quarter. Brown Brothers Harriman & Co. now owns 1,319 shares of the utilities provider’s stock valued at $25,000 after buying an additional 1,177 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of PT Telekomunikasi Indonesia, Tbk during the second quarter worth about $25,000. Kestra Advisory Services LLC bought a new position in shares of PT Telekomunikasi Indonesia, Tbk during the fourth quarter worth about $36,000. Smartleaf Asset Management LLC increased its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 70.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,222 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 921 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in shares of PT Telekomunikasi Indonesia, Tbk in the 4th quarter worth about $40,000.

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.