PLDT (NYSE:PHI) Upgraded to Buy at Bank of America

PLDT (NYSE:PHIGet Rating) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, The Fly reports.

Separately, StockNews.com assumed coverage on shares of PLDT in a research report on Thursday, March 31st. They issued a “buy” rating on the stock.

Shares of NYSE PHI opened at $33.28 on Tuesday. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.33 and a quick ratio of 0.31. The company has a 50-day moving average price of $36.20 and a 200-day moving average price of $35.78. PLDT has a 1 year low of $23.71 and a 1 year high of $39.00. The stock has a market capitalization of $7.19 billion, a P/E ratio of 12.10, a P/E/G ratio of 2.29 and a beta of 0.21.

PLDT (NYSE:PHIGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The technology company reported $0.68 EPS for the quarter. PLDT had a net margin of 15.14% and a return on equity of 24.66%. The company had revenue of $972.87 million during the quarter. As a group, equities research analysts anticipate that PLDT will post 2.7 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of PLDT by 4.7% during the first quarter. BlackRock Inc. now owns 718,032 shares of the technology company’s stock valued at $25,232,000 after buying an additional 32,027 shares during the last quarter. First Trust Advisors LP lifted its position in shares of PLDT by 15.5% during the first quarter. First Trust Advisors LP now owns 212,420 shares of the technology company’s stock worth $7,464,000 after purchasing an additional 28,564 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of PLDT by 13.5% during the fourth quarter. Guggenheim Capital LLC now owns 107,523 shares of the technology company’s stock worth $3,841,000 after purchasing an additional 12,790 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of PLDT by 6.3% during the first quarter. Hsbc Holdings PLC now owns 44,712 shares of the technology company’s stock worth $1,583,000 after purchasing an additional 2,645 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of PLDT by 303.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 36,364 shares of the technology company’s stock valued at $1,278,000 after acquiring an additional 27,348 shares in the last quarter. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

PLDT Company Profile (Get Rating)

PLDT Inc provides telecommunications and digital services in the Philippines. It operates through three segments: Wireless, Fixed Line, and Others. The company 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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