StockNews.com Upgrades Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) to Buy

Posted by on Jul 22nd, 2023

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Stock Performance

Shares of TLK stock opened at $25.65 on Thursday. The stock’s 50-day moving average is $26.82 and its two-hundred day moving average is $26.68. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.98 and a beta of 0.62. Perusahaan Perseroan has a 1 year low of $23.02 and a 1 year high of $31.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 0.85.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK – Get Free Report) last announced its earnings results on Friday, April 28th. The utilities provider reported $0.45 earnings per share for the quarter. Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk had a net margin of 14.21% and a return on equity of 14.51%. The business had revenue of $2.53 billion during the quarter. Analysts predict that Perusahaan Perseroan will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

A number of hedge funds have recently added to or reduced their stakes in the company. Creative Planning lifted its position in Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 13.2% in the second quarter. Creative Planning now owns 32,112 shares of the utilities provider’s stock valued at $856,000 after purchasing an additional 3,750 shares during the period. Northcape Capital Pty Ltd lifted its position in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 5.0% during the 2nd quarter. Northcape Capital Pty Ltd now owns 339,066 shares of the utilities provider’s stock valued at $9,043,000 after acquiring an additional 16,274 shares during the period. Summit Global Investments acquired a new stake in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk during the 2nd quarter valued at approximately $439,000. Allspring Global Investments Holdings LLC lifted its position in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 4.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,145,542 shares of the utilities provider’s stock valued at $110,562,000 after acquiring an additional 167,209 shares during the period. Finally, Ritholtz Wealth Management lifted its position in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 27.2% during the 2nd quarter. Ritholtz Wealth Management now owns 34,696 shares of the utilities provider’s stock valued at $925,000 after acquiring an additional 7,429 shares during the period. Institutional investors and hedge funds own 3.92% of the company’s stock.

About Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

(Get Free Report)

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides information and communications technology, and telecommunications network services worldwide. The company operates through mobile, consumer, enterprise, Wholesale and International Business, and Other segments. The Mobile segment offers mobile voice, SMS, value added services, and mobile broadband services.

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