KT (NYSE:KT) Downgraded by Zacks Research to “Strong Sell”

KT (NYSE:KT) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other brokerages have also weighed in on KT. Wall Street Zen lowered KT from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of KT in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

KT Trading Down 1.8%

Shares of KT stock opened at $18.02 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.41. KT has a twelve month low of $14.79 and a twelve month high of $21.61. The firm has a market capitalization of $9.29 billion, a PE ratio of 13.35, a P/E/G ratio of 0.13 and a beta of 0.70. The firm’s 50-day moving average price is $19.18 and its 200 day moving average price is $19.78.

KT (NYSE:KT) last announced its earnings results on Friday, September 5th. The technology company reported $1.01 EPS for the quarter. The business had revenue of $5.31 billion during the quarter. KT had a return on equity of 5.06% and a net margin of 3.35%. On average, sell-side analysts predict that KT will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On KT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KT. First Horizon Advisors Inc. raised its position in KT by 506.3% in the second quarter. First Horizon Advisors Inc. now owns 2,504 shares of the technology company’s stock valued at $52,000 after purchasing an additional 2,091 shares during the period. Bruce G. Allen Investments LLC increased its position in shares of KT by 21.9% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 2,890 shares of the technology company’s stock worth $60,000 after purchasing an additional 519 shares during the last quarter. Brooklyn Investment Group raised its holdings in KT by 1,901.0% in the 1st quarter. Brooklyn Investment Group now owns 4,122 shares of the technology company’s stock valued at $73,000 after buying an additional 3,916 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in KT in the 1st quarter valued at about $77,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in KT by 185.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 4,353 shares of the technology company’s stock valued at $77,000 after buying an additional 2,828 shares during the last quarter. Institutional investors and hedge funds own 18.86% of the company’s stock.

About KT

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.