StockNews.com Downgrades PLDT (NYSE:PHI) to Buy

PLDT (NYSE:PHI) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

PLDT Stock Performance

Shares of PHI stock opened at $22.80 on Thursday. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 1.14 and a beta of 0.66. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.34 and a quick ratio of 0.32. The business has a fifty day moving average of $22.77 and a 200 day moving average of $24.30. PLDT has a 1 year low of $21.00 and a 1 year high of $30.39.

Hedge Funds Weigh In On PLDT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in PLDT in the 3rd quarter worth $28,000. SBI Securities Co. Ltd. acquired a new stake in PLDT during the 4th quarter worth about $49,000. BNP Paribas Financial Markets acquired a new stake in PLDT during the 3rd quarter worth about $79,000. Ascent Group LLC acquired a new stake in PLDT during the 3rd quarter worth about $218,000. Finally, Sequoia Financial Advisors LLC grew its position in PLDT by 12.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 11,629 shares of the technology company’s stock worth $258,000 after purchasing an additional 1,310 shares during the period. Hedge funds and other institutional investors own 2.26% of the company’s stock.

PLDT Company Profile

PLDT Inc provides telecommunications and digital services in the Philippines. The company operates through three segments: Wireless, Fixed Line, and Others. It offers cellular mobile, Internet broadband distribution, operations support, software development, and satellite information and messaging services; and sells Wi-Fi access equipment.