PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) from a hold rating to a strong sell rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings cut shares of PT Telekomunikasi Indonesia, Tbk from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Sell”.

PT Telekomunikasi Indonesia, Tbk Stock Performance

NYSE TLK opened at $16.56 on Thursday. The firm has a 50-day moving average of $18.00 and a 200-day moving average of $20.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.76 and a current ratio of 0.77. The stock has a market cap of $16.40 billion, a PE ratio of 12.27, a P/E/G ratio of 4.50 and a beta of 0.36. PT Telekomunikasi Indonesia, Tbk has a 52-week low of $15.63 and a 52-week high of $23.51.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) last posted its earnings results on Wednesday, May 20th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.65. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.30 billion. PT Telekomunikasi Indonesia, Tbk had a net margin of 14.78% and a return on equity of 13.86%. On average, sell-side analysts anticipate that PT Telekomunikasi Indonesia, Tbk will post 1.39 EPS for the current year.

Institutional Trading of PT Telekomunikasi Indonesia, Tbk

A number of hedge funds have recently modified their holdings of the stock. Factory Mutual Insurance Co. acquired a new stake in PT Telekomunikasi Indonesia, Tbk in the 3rd quarter worth about $1,638,000. American Century Companies Inc. raised its stake in PT Telekomunikasi Indonesia, Tbk by 11.3% in the 3rd quarter. American Century Companies Inc. now owns 904,285 shares of the utilities provider’s stock worth $17,019,000 after purchasing an additional 91,448 shares in the last quarter. Northcape Capital Pty Ltd raised its stake in PT Telekomunikasi Indonesia, Tbk by 111.4% in the 4th quarter. Northcape Capital Pty Ltd now owns 1,256,211 shares of the utilities provider’s stock worth $27,222,000 after purchasing an additional 662,110 shares in the last quarter. Barometer Capital Management Inc. raised its stake in PT Telekomunikasi Indonesia, Tbk by 102.5% in the 3rd quarter. Barometer Capital Management Inc. now owns 223,200 shares of the utilities provider’s stock worth $4,201,000 after purchasing an additional 113,000 shares in the last quarter. Finally, Ramirez Asset Management Inc. raised its stake in PT Telekomunikasi Indonesia, Tbk by 52.5% in the 3rd quarter. Ramirez Asset Management Inc. now owns 535,828 shares of the utilities provider’s stock worth $10,084,000 after purchasing an additional 184,478 shares in the last quarter.

About PT Telekomunikasi Indonesia, Tbk

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia’s largest integrated telecommunications provider. The company’s core operations encompass the provision of fixed-line and mobile voice services, broadband internet, and network infrastructure. It serves a broad customer base that includes residential subscribers, businesses, government agencies and wholesale partners, offering connectivity across urban and rural areas of Indonesia.

Telkom’s product and service portfolio spans consumer broadband and digital entertainment, enterprise ICT solutions, managed network services, data center and cloud platforms, and wholesale international connectivity.