Koninklijke Philips (NYSE:PHG) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Koninklijke Philips (NYSE:PHG) from a buy rating to a hold rating in a report released on Friday.

PHG has been the subject of a number of other research reports. BNP Paribas raised shares of Koninklijke Philips from a “neutral” rating to an “outperform” rating in a research note on Tuesday. UBS Group raised shares of Koninklijke Philips from a “neutral” rating to a “buy” rating in a research note on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Koninklijke Philips Price Performance

Shares of NYSE:PHG opened at $26.04 on Friday. The company has a 50 day moving average of $26.37 and a 200 day moving average of $28.06. The stock has a market cap of $24.47 billion, a P/E ratio of -30.99, a P/E/G ratio of 0.82 and a beta of 0.77. Koninklijke Philips has a 12 month low of $19.75 and a 12 month high of $32.91. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

Koninklijke Philips (NYSE:PHG) last issued its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Koninklijke Philips had a negative net margin of 3.88% and a positive return on equity of 10.85%. As a group, sell-side analysts forecast that Koninklijke Philips will post 1.63 EPS for the current fiscal year.

Koninklijke Philips Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 13th will be issued a $0.886 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a dividend yield of 2.9%. Koninklijke Philips’s payout ratio is -89.29%.

Institutional Investors Weigh In On Koninklijke Philips

Hedge funds have recently made changes to their positions in the business. Colonial Trust Co SC lifted its holdings in shares of Koninklijke Philips by 724.0% in the 4th quarter. Colonial Trust Co SC now owns 1,409 shares of the technology company’s stock worth $36,000 after acquiring an additional 1,238 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Koninklijke Philips during the 3rd quarter valued at $54,000. Farther Finance Advisors LLC raised its holdings in Koninklijke Philips by 37.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company’s stock valued at $54,000 after buying an additional 582 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Koninklijke Philips during the 4th quarter valued at $55,000. Finally, Millstone Evans Group LLC bought a new stake in Koninklijke Philips during the 4th quarter valued at $60,000. 13.67% of the stock is currently owned by institutional investors.

About Koninklijke Philips

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.