Trade Report: The Philippine Long Distance Telephone Co. (PHI) Given $29.43 Consensus Target Price by Brokerages

The Philippine Long Distance Telephone Co. (PHI) Given $29.43 Consensus Target Price by Brokerages

Shares of Philippine Long Distance Telephone Co. (NYSE:PHI) have earned an average broker rating score of 4.00 (Sell) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a sell recommendation.

Brokers have set a 1-year consensus price target of $29.43 for the company, according to Zacks. Zacks has also given Philippine Long Distance Telephone an industry rank of 99 out of 265 based on the ratings given to its competitors.

Several equities analysts recently commented on PHI shares. Citigroup Inc. cut shares of Philippine Long Distance Telephone from a “neutral” rating to a “sell” rating in a research note on Tuesday, October 4th. Zacks Investment Research cut shares of Philippine Long Distance Telephone from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. HSBC upgraded shares of Philippine Long Distance Telephone from a “hold” rating to a “buy” rating in a research note on Friday, October 14th. Finally, Credit Suisse Group AG cut shares of Philippine Long Distance Telephone to an “underperform” rating in a research note on Wednesday, October 26th.

Philippine Long Distance Telephone (NYSE:PHI) opened at 26.73 on Wednesday. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 23.02 and a beta of 1.37. Philippine Long Distance Telephone has a 1-year low of $26.09 and a 1-year high of $50.48. The firm’s 50-day moving average is $30.81 and its 200-day moving average is $37.86.

Several institutional investors have recently made changes to their positions in PHI. A.R.T. Advisors LLC acquired a new position in shares of Philippine Long Distance Telephone during the second quarter worth about $210,000. Trexquant Investment LP acquired a new position in shares of Philippine Long Distance Telephone during the second quarter worth about $211,000. KCG Holdings Inc. acquired a new position in shares of Philippine Long Distance Telephone during the second quarter worth about $244,000. Bank of New York Mellon Corp acquired a new position in shares of Philippine Long Distance Telephone during the third quarter worth about $263,000. Finally, Nuveen Fund Advisors LLC acquired a new position in shares of Philippine Long Distance Telephone during the second quarter worth about $268,000. Institutional investors own 9.55% of the company’s stock.

About Philippine Long Distance Telephone

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.

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