Zacks Research Downgrades PLDT (NYSE:PHI) to Strong Sell

PLDT (NYSE:PHI) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PLDT in a research note on Monday, May 4th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

PLDT Stock Up 0.3%

NYSE:PHI opened at $18.89 on Thursday. PLDT has a 12-month low of $18.61 and a 12-month high of $24.51. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.10. The firm has a market capitalization of $4.08 billion, a P/E ratio of 7.87 and a beta of 0.64. The stock’s fifty day simple moving average is $20.63 and its 200-day simple moving average is $21.68.

PLDT (NYSE:PHI) last posted its quarterly earnings results on Friday, May 15th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.04. PLDT had a return on equity of 27.37% and a net margin of 13.62%.The business had revenue of $932.80 million for the quarter, compared to analyst estimates of $913.27 million. Equities research analysts expect that PLDT will post 2.58 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Alfredo Santos Panlilio sold 4,505 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $22.64, for a total transaction of $101,993.20. Following the sale, the director owned 3,000 shares of the company’s stock, valued at approximately $67,920. This trade represents a 60.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.73% of the company’s stock.

Institutional Trading of PLDT

Hedge funds and other institutional investors have recently modified their holdings of the company. Ballentine Partners LLC acquired a new stake in shares of PLDT in the 4th quarter valued at about $265,000. Advisors Preferred LLC acquired a new stake in shares of PLDT in the 4th quarter valued at about $336,000. Evergreen Capital Management LLC acquired a new stake in shares of PLDT in the 4th quarter valued at about $336,000. CWM LLC raised its stake 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 purchasing an additional 469 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of PLDT by 272.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,306 shares of the technology company’s stock valued at $28,000 after purchasing an additional 955 shares during the period. Institutional investors and hedge funds own 2.26% of the company’s stock.

About PLDT

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.