PLDT (NYSE:PHI) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of PLDT (NYSE:PHI) from a buy rating to a hold rating in a report issued on Thursday, January 4th. They currently have $34.00 target price on the technology company’s stock.
According to Zacks, “PLDT Inc. offers telecommunications services. Its operating segment consists of Wireless, Fixed Line and Others. Wireless segment provides cellular, wireless broadband and other services, and digital platforms and mobile financial services. Fixed Line segment provides local exchange, international long distance, national long distance, data and other network and miscellaneous services. It offers postpaid and prepaid fixed line services. PLDT, Inc., formerly known as Philippine Long Distance Telephone Company, is based in Makati City, the Philippines. “
Several other analysts have also weighed in on the company. Bank of America upgraded PLDT from an underperform rating to a neutral rating in a report on Thursday, December 14th. Citigroup raised PLDT from a sell rating to a neutral rating in a report on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $33.00.
PLDT (NYSE:PHI) last issued its quarterly earnings results on Thursday, November 9th. The technology company reported $0.53 earnings per share for the quarter. PLDT had a return on equity of 25.56% and a net margin of 16.32%. The business had revenue of $787.68 million during the quarter. equities research analysts anticipate that PLDT will post 2.5 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the stock. Citigroup Inc. lifted its position in shares of PLDT by 14.5% during the 2nd quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock worth $129,000 after buying an additional 462 shares during the period. Allianz Asset Management GmbH increased its holdings in PLDT by 51.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 8,885 shares of the technology company’s stock valued at $284,000 after purchasing an additional 3,000 shares in the last quarter. SG Americas Securities LLC acquired a new stake in PLDT during the 2nd quarter valued at $145,000. Wells Fargo & Company MN increased its holdings in PLDT by 7.1% during the 3rd quarter. Wells Fargo & Company MN now owns 74,332 shares of the technology company’s stock valued at $2,373,000 after purchasing an additional 4,923 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in PLDT during the 2nd quarter valued at $218,000. Institutional investors and hedge funds own 8.93% of the company’s stock.
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PLDT Company Profile
PLDT, Inc, formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.
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