PLDT Inc. (NYSE:PHI) saw its stock price rise above its **200-day moving average** during trading on November 12, 2023. The telecommunications company’s shares reached a peak of **$21.95** before closing at **$21.7750**, with a trading volume of **29,222 shares**. This movement reflects a significant moment for the company, which has experienced notable fluctuations in its stock performance.
Analyst Ratings and Market Reactions
Recent evaluations from various research firms have impacted PLDT’s stock outlook. On **August 27**, UBS Group downgraded PLDT from a “buy” rating to a “neutral” rating. Subsequently, Weiss Ratings reaffirmed a “sell (d+)” rating in a report dated **December 1**. In contrast, Zacks Research upgraded PLDT from a “strong sell” to a “hold” rating on **October 13**. Currently, two analysts have assigned a hold rating to the stock, while one has given it a sell rating. According to data from MarketBeat.com, the average rating for PLDT stands at “Reduce.”
Investors are keenly observing these shifts as they can significantly influence market confidence and share performance.
Financial Performance Overview
PLDT’s financial metrics present a mixed picture. The company’s **50-day moving average** stands at **$20.17**, while its **200-day moving average** is **$21.15**. With a market capitalization of **$4.70 billion**, PLDT’s price-to-earnings (P/E) ratio is **9.19**, and its price-to-earnings-growth (PEG) ratio is **1.99**. The company has a beta of **0.65**, indicating lower volatility compared to the market.
The firm also reported its quarterly earnings results on **November 12**. PLDT recorded earnings per share (EPS) of **$0.67**, which fell short of the consensus estimate of **$0.73** by **$0.06**. The company reported revenue of **$922.04 million**, below analyst expectations of **$953.29 million**. Despite the shortfall, PLDT maintained a net margin of **13.40%** and a return on equity of **28.27%**.
Institutional Investors’ Moves
Recent activity among institutional investors shows a cautious approach towards PLDT. PNC Financial Services Group Inc. increased its holdings in PLDT by **3.4%** during the first quarter, now owning **13,279 shares** valued at approximately **$290,000** after purchasing an additional **437 shares**. Similarly, Envestnet Asset Management Inc. raised its stake by **6.8%**, acquiring **13,514 shares** worth around **$253,000**.
Furthermore, Sequoia Financial Advisors LLC expanded its investment by **9.5%**, bringing its total to **13,942 shares** valued at **$303,000**. EverSource Wealth Advisors LLC saw a significant increase of **155.1%** during the same period, now holding **3,069 shares** valued at **$67,000**. These adjustments indicate a growing interest among institutional investors, who currently own approximately **2.26%** of PLDT’s stock.
PLDT Inc. continues to provide essential telecommunications and digital services in the Philippines, operating through segments including Wireless, Fixed Line, and Others. The company offers a range of services, including cellular mobile, internet broadband, software development, and satellite information services. As market dynamics evolve, investors and analysts will be closely monitoring PLDT’s performance and strategic decisions in the coming months.
