PLDT Inc. (PHI) Rating Lowered to Hold at Deutsche Bank AG

Deutsche Bank AG downgraded shares of PLDT Inc. (NYSE:PHI) from a buy rating to a hold rating in a report released on Monday, July 17th.

A number of other brokerages have also recently issued reports on PHI. Zacks Investment Research raised shares of PLDT from a sell rating to a strong-buy rating and set a $39.00 price objective on the stock in a research note on Saturday, April 8th. Credit Suisse Group cut shares of PLDT from a neutral rating to an underperform rating in a research note on Wednesday, May 10th. CLSA raised shares of PLDT from a sell rating to a buy rating in a research note on Wednesday, May 24th. Macquarie raised shares of PLDT from a neutral rating to an outperform rating in a research note on Friday, May 26th. Finally, TheStreet raised shares of PLDT from a d+ rating to a c- rating in a research note on Monday, June 5th. Four analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $39.00.

PLDT (NYSE:PHI) traded up 1.36% during midday trading on Monday, reaching $33.46. The company had a trading volume of 97,667 shares. PLDT has a one year low of $25.50 and a one year high of $40.75. The stock’s 50 day moving average is $34.00 and its 200 day moving average is $33.08. The company has a market capitalization of $7.24 billion, a PE ratio of 15.17 and a beta of 1.01.

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Several hedge funds have recently bought and sold shares of the company. Citigroup Inc. boosted its stake in PLDT by 14.5% in the second quarter. Citigroup Inc. now owns 3,654 shares of the technology company’s stock worth $129,000 after buying an additional 462 shares during the last quarter. SG Americas Securities LLC bought a new stake in PLDT during the second quarter worth $145,000. Fisher Asset Management LLC bought a new stake in PLDT during the second quarter worth $201,000. Stevens Capital Management LP bought a new stake in PLDT during the first quarter worth $260,000. Finally, Bank of New York Mellon Corp boosted its stake in PLDT by 7.4% in the first quarter. Bank of New York Mellon Corp now owns 8,272 shares of the technology company’s stock worth $265,000 after buying an additional 568 shares during the last quarter. 10.19% of the stock is currently owned by hedge funds and other institutional investors.

About PLDT

PLDT, Inc, formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.

Analyst Recommendations for PLDT (NYSE:PHI)

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