PLDT (PHI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of PLDT (NYSE:PHI) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $28.00 price objective 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. “

Separately, Credit Suisse Group raised shares of PLDT from an underperform rating to a neutral rating in a research note on Thursday, March 7th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. PLDT has an average rating of Hold and an average price target of $28.00.

Shares of NYSE PHI traded up $0.39 on Tuesday, reaching $24.11. 76,987 shares of the company’s stock traded hands, compared to its average volume of 79,915. PLDT has a 12 month low of $19.36 and a 12 month high of $27.65. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 10.62 and a beta of 0.74. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.43 and a current ratio of 0.45.

The company also recently declared a semiannual dividend, which was paid on Friday, May 3rd. Stockholders of record on Wednesday, April 3rd were issued a dividend of $0.6817 per share. This represents a dividend yield of 6.16%. The ex-dividend date was Tuesday, April 2nd. PLDT’s payout ratio is 40.53%.

Several large investors have recently bought and sold shares of PHI. Dimensional Fund Advisors LP grew its holdings in shares of PLDT by 6.5% during the third quarter. Dimensional Fund Advisors LP now owns 449,690 shares of the technology company’s stock valued at $11,533,000 after buying an additional 27,446 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of PLDT by 952.9% during the fourth quarter. Quadrant Capital Group LLC now owns 8,392 shares of the technology company’s stock valued at $177,000 after buying an additional 7,595 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of PLDT by 109.8% during the fourth quarter. Acadian Asset Management LLC now owns 30,903 shares of the technology company’s stock valued at $661,000 after buying an additional 16,171 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of PLDT during the fourth quarter valued at approximately $521,000. Finally, United Services Automobile Association grew its holdings in shares of PLDT by 6.5% during the fourth quarter. United Services Automobile Association now owns 78,880 shares of the technology company’s stock valued at $1,686,000 after buying an additional 4,800 shares during the last quarter. Hedge funds and other institutional investors own 6.46% of the company’s stock.

About PLDT

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

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