PLDT (NYSE:PHI) Hits New 1-Year Low – Here’s What Happened

Shares of PLDT Inc. (NYSE:PHI) hit a new 52-week low on Thursday. The company traded as low as $16.51 and last traded at $16.4480, with a volume of 16,708 shares changing hands. The stock had previously closed at $17.70.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PHI shares. JPMorgan Chase & Co. lowered PLDT from an “overweight” rating to a “neutral” rating in a research note on Monday, August 17th. Zacks Research upgraded PLDT from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. TD Cowen restated a “hold” rating on shares of PLDT in a research report on Thursday, August 13th. Finally, Weiss Ratings lowered PLDT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 31st. Four investment analysts have rated the stock with a Hold rating. According to MarketBeat, PLDT currently has an average rating of “Hold”.

PLDT Stock Down 5.8%

The company has a market capitalization of $3.60 billion, a P/E ratio of 7.52, a price-to-earnings-growth ratio of 1.92 and a beta of 0.65. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.43 and a current ratio of 0.44. The firm’s fifty day moving average is $18.22 and its 200-day moving average is $19.81.

Institutional Trading of PLDT

A number of hedge funds have recently added to or reduced their stakes in PHI. Signaturefd LLC grew its stake in shares of PLDT by 91.7% during the third quarter. Signaturefd LLC now owns 3,711 shares of the technology company’s stock worth $66,000 after buying an additional 1,775 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of PLDT by 74.5% during the first quarter. EverSource Wealth Advisors LLC now owns 7,390 shares of the technology company’s stock worth $155,000 after buying an additional 3,155 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of PLDT by 40.8% in the 1st quarter. First Trust Advisors LP now owns 17,926 shares of the technology company’s stock valued at $377,000 after acquiring an additional 5,197 shares during the last quarter. Engineers Gate Manager LP lifted its stake in shares of PLDT by 40.3% in the 2nd quarter. Engineers Gate Manager LP now owns 22,887 shares of the technology company’s stock valued at $401,000 after acquiring an additional 6,572 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of PLDT by 24.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 26,494 shares of the technology company’s stock valued at $557,000 after acquiring an additional 5,205 shares during the last quarter. Institutional investors and hedge funds own 2.26% of the company’s stock.

About PLDT

PLDT Inc. is a telecommunications and digital services provider based in the Philippines. Founded in 1928, the company operates an integrated network serving residential, business and government customers across the country. Its services include mobile voice and data through its Smart brand, fixed-line telephony, home broadband and enterprise connectivity. Through its business units and subsidiaries, PLDT also provides information and communications technology services, cloud and data-center solutions, and other digital services.