KT (NYSE:KT) Cut to Neutral at Bank of America

Bank of America cut shares of KT (NYSE:KT) from a buy rating to a neutral rating in a research report released on Thursday, Marketbeat reports. The brokerage currently has $23.08 target price on the technology company’s stock.

A number of other research firms also recently commented on KT. Weiss Ratings upgraded KT from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, March 17th. Wall Street Zen downgraded KT from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.08.

KT Trading Down 0.6%

Shares of KT stock opened at $19.59 on Thursday. The business’s fifty day moving average price is $21.64 and its 200 day moving average price is $20.49. KT has a 1-year low of $17.54 and a 1-year high of $24.58. The firm has a market capitalization of $9.45 billion, a PE ratio of 7.80, a P/E/G ratio of 7.56 and a beta of 0.59. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.19 and a quick ratio of 1.15.

KT (NYSE:KT) last announced its quarterly earnings data on Monday, April 13th. The technology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). KT had a return on equity of 9.21% and a net margin of 6.15%.The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.69 billion. As a group, sell-side analysts forecast that KT will post 2.06 EPS for the current fiscal year.

Institutional Trading of KT

Several institutional investors and hedge funds have recently made changes to their positions in KT. Millennium Management LLC lifted its position in shares of KT by 4,148.2% in the first quarter. Millennium Management LLC now owns 530,817 shares of the technology company’s stock valued at $9,401,000 after acquiring an additional 518,322 shares in the last quarter. Jane Street Group LLC lifted its position in shares of KT by 107.9% in the first quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock valued at $4,290,000 after acquiring an additional 125,702 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of KT by 39.8% in the third quarter. Natixis Advisors LLC now owns 280,713 shares of the technology company’s stock valued at $5,474,000 after acquiring an additional 79,891 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in shares of KT in the third quarter valued at $1,526,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of KT in the third quarter valued at $1,190,000. 18.86% of the stock is currently owned by hedge funds and other institutional investors.

KT Company Profile

KT Corporation, listed on the New York Stock Exchange as an American depositary receipt under the symbol KT, is a major telecommunications and information technology provider headquartered in Seongnam, South Korea. The company’s services span traditional fixed-line voice communication, high-speed broadband internet access and mobile cellular networks. Leveraging an extensive fiber-optic and wireless infrastructure, KT delivers voice, data and multimedia solutions to both consumer and enterprise customers.

KT has been at the forefront of technological innovation in its home market, launching South Korea’s first commercial 5G network and expanding its offerings to include Internet of Things (IoT) platforms, cloud computing services and cybersecurity solutions.