PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Shares Gap Down – Here’s What Happened

Shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) gapped down prior to trading on Thursday . The stock had previously closed at $15.85, but opened at $14.88. PT Telekomunikasi Indonesia, Tbk shares last traded at $14.73, with a volume of 73,341 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on TLK. Zacks Research lowered shares of PT Telekomunikasi Indonesia, Tbk from a “hold” rating to a “strong sell” rating in a report on Thursday, May 14th. 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. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

PT Telekomunikasi Indonesia, Tbk Trading Down 6.6%

The stock has a market cap of $14.67 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.92 and a beta of 0.34. 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 company has a 50-day moving average price of $16.93 and a two-hundred day moving average price of $19.31.

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 for the quarter. PT Telekomunikasi Indonesia, Tbk had a return on equity of 10.75% and a net margin of 11.10%. On average, research analysts expect that PT Telekomunikasi Indonesia, Tbk will post 2.04 EPS for the current fiscal year.

PT Telekomunikasi Indonesia, Tbk Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, July 20th. Shareholders of record on Thursday, June 18th will be paid a dividend of $1.2214 per share. This represents a yield of 824.0%. The ex-dividend date of this dividend is Thursday, June 18th. PT Telekomunikasi Indonesia, Tbk’s payout ratio is presently 93.94%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TLK. Lazard Asset Management LLC boosted its stake in PT Telekomunikasi Indonesia, Tbk by 34.6% during the third quarter. Lazard Asset Management LLC now owns 20,071,706 shares of the utilities provider’s stock worth $377,750,000 after buying an additional 5,154,799 shares during the period. Northcape Capital Pty Ltd boosted its stake in PT Telekomunikasi Indonesia, Tbk by 111.4% during the fourth quarter. Northcape Capital Pty Ltd now owns 1,256,211 shares of the utilities provider’s stock worth $27,222,000 after buying an additional 662,110 shares during the period. Millennium Management LLC boosted its stake in PT Telekomunikasi Indonesia, Tbk by 606.8% during the first quarter. Millennium Management LLC now owns 468,651 shares of the utilities provider’s stock worth $6,922,000 after buying an additional 402,344 shares during the period. Barometer Capital Management Inc. purchased a new position in PT Telekomunikasi Indonesia, Tbk during the first quarter worth $6,385,000. Finally, First Trust Advisors LP boosted its stake in PT Telekomunikasi Indonesia, Tbk by 1,041.8% during the third quarter. First Trust Advisors LP now owns 345,772 shares of the utilities provider’s stock worth $6,507,000 after buying an additional 315,488 shares during the period.

PT Telekomunikasi Indonesia, Tbk Company Profile

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.