KT (NYSE:KT) Rating Lowered to “Strong Sell” at Zacks Research

KT (NYSE:KT) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. Wall Street Zen downgraded shares of KT from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Bank of America downgraded shares of KT from a “buy” rating to a “neutral” rating and set a $23.08 price objective on the stock. in a research report on Thursday. Finally, Weiss Ratings upgraded shares of KT from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.08.

KT Stock Performance

Shares of KT opened at $19.59 on Thursday. The company’s 50 day moving average price is $21.64 and its 200 day moving average price is $20.49. KT has a 52 week low of $17.54 and a 52 week high of $24.58. The company has a market capitalization of $9.45 billion, a PE ratio of 7.80, a PEG ratio of 7.61 and a beta of 0.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.19.

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

Institutional Trading of KT

A number of institutional investors have recently added to or reduced their stakes in KT. Millennium Management LLC lifted its stake in 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 during the last quarter. Jane Street Group LLC lifted its stake in 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 during the last quarter. Natixis Advisors LLC lifted its stake in 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 during the last quarter. New York State Common Retirement Fund acquired a new stake in KT in the third quarter valued at approximately $1,526,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in KT in the third quarter valued at approximately $1,190,000. 18.86% of the stock is currently owned by institutional investors and hedge funds.

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.