PLDT Inc. (NYSE:PHI) saw its stock price surpass the two hundred-day moving average during trading on Monday, reaching a peak of $21.95 before closing at $21.7750. This movement indicates increased investor interest, with a total volume of 29,222 shares traded.
Analyst Ratings Reflect Diverging Opinions
Several financial research firms have recently issued updates regarding PLDT’s stock. Notably, **UBS Group** downgraded PLDT from a “buy” to a “neutral” rating on August 27, 2023. In contrast, **Zacks Research** upgraded the stock from a “strong sell” to a “hold” rating on October 13, 2023. Currently, two analysts classify the stock as a hold while one has issued a sell rating, leading to an average rating of “Reduce,” according to data from MarketBeat.com.
The stock’s performance metrics show a 50-day moving average price of **$20.17** and a two hundred-day moving average of **$21.15**. PLDT’s market capitalization stands at **$4.70 billion**, with a price-to-earnings (P/E) ratio of **9.19** and a price-to-earnings-growth ratio of **1.99**. The company also has a debt-to-equity ratio of **2.32**, suggesting a significant reliance on debt financing.
Quarterly Earnings Disappoint Analysts
On November 12, 2023, PLDT reported its quarterly earnings, revealing an earnings per share (EPS) of **$0.67**, falling short of the consensus estimate of **$0.73** by **$0.06**. The firm recorded a net margin of **13.40%** and a return on equity of **28.27%**. Revenue for the quarter was **$922.04 million**, while analysts had anticipated revenue of **$953.29 million**. Projections for the current year estimate an EPS of **$2.76**.
The mixed results reflect broader challenges within the telecommunications sector, particularly as companies grapple with evolving market dynamics and increased competition.
Institutional Investments Shift
Recent activity among institutional investors shows fluctuating interests in PLDT shares. **PNC Financial Services Group Inc.** increased its holdings by **3.4%** in the first quarter, now owning **13,279 shares** valued at approximately **$290,000**. Similarly, **Envestnet Asset Management Inc.** raised its stake by **6.8%**, acquiring **13,514 shares** worth **$253,000**. Other firms, such as **Sequoia Financial Advisors LLC** and **EverSource Wealth Advisors LLC**, also increased their positions during the second quarter, indicating a cautious yet optimistic view on PLDT’s future prospects.
Overall, **2.26%** of PLDT’s stock is now owned by institutional investors, reflecting a growing caution among market participants.
PLDT Inc. operates in the Philippines, providing a range of telecommunications and digital services. Its operations are divided into three segments: Wireless, Fixed Line, and Others, encompassing cellular mobile, internet broadband distribution, and various support services.
As PLDT navigates these challenges and market fluctuations, investors and analysts alike will be closely monitoring its performance and strategic direction in the coming months.
