StockNews.com Upgrades PLDT (NYSE:PHI) to Strong-Buy

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

PLDT Price Performance

PHI stock opened at $22.30 on Thursday. The business’s 50-day simple moving average is $25.59 and its 200 day simple moving average is $25.54. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.34 and a quick ratio of 0.32. PLDT has a twelve month low of $21.52 and a twelve month high of $30.39.

PLDT (NYSE:PHI) last announced its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.68 earnings per share (EPS) for the quarter. PLDT had a net margin of 12.34% and a return on equity of 22.11%. The company had revenue of $933.44 million during the quarter. Sell-side analysts predict that PLDT will post 2.76 EPS for the current fiscal year.

Hedge Funds Weigh In On PLDT

Institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its stake in shares of PLDT by 37.2% in the third quarter. Quantinno Capital Management LP now owns 13,495 shares of the technology company’s stock worth $363,000 after acquiring an additional 3,659 shares during the last quarter. Ascent Group LLC acquired a new stake in shares of PLDT in the 3rd quarter valued at $218,000. BNP Paribas Financial Markets bought a new stake in shares of PLDT during the third quarter worth $79,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of PLDT by 12.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 13,946 shares of the technology company’s stock valued at $375,000 after acquiring an additional 1,565 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in PLDT by 15.1% in the third quarter. First Trust Direct Indexing L.P. now owns 10,570 shares of the technology company’s stock valued at $284,000 after acquiring an additional 1,383 shares during the last quarter. 2.26% of the stock is owned by institutional investors.

About PLDT

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.