StockNews.com Downgrades KT (NYSE:KT) to Buy

KT (NYSE:KT) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

KT Price Performance

Shares of NYSE KT opened at $12.20 on Thursday. The stock has a fifty day simple moving average of $13.93 and a two-hundred day simple moving average of $13.27. KT has a 1-year low of $11.04 and a 1-year high of $15.35. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 0.39.

KT (NYSE:KT) last posted its earnings results on Thursday, February 8th. The technology company reported $0.09 earnings per share (EPS) for the quarter. The firm had revenue of $5.08 billion for the quarter. KT had a return on equity of 5.28% and a net margin of 3.84%. Analysts anticipate that KT will post 1.9 earnings per share for the current year.

Institutional Investors Weigh In On KT

Several large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC increased its holdings in shares of KT by 165.3% in the second quarter. Lazard Asset Management LLC now owns 5,338,379 shares of the technology company’s stock worth $60,323,000 after buying an additional 3,326,251 shares during the period. BlackRock Inc. increased its holdings in shares of KT by 299.4% in the first quarter. BlackRock Inc. now owns 2,710,652 shares of the technology company’s stock worth $30,739,000 after buying an additional 2,031,948 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of KT by 215.7% in the first quarter. Envestnet Asset Management Inc. now owns 1,856,392 shares of the technology company’s stock worth $6,865,000 after buying an additional 1,268,362 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of KT by 38.3% in the first quarter. Rockefeller Capital Management L.P. now owns 2,284,991 shares of the technology company’s stock worth $25,911,000 after buying an additional 632,530 shares during the period. Finally, Morgan Stanley increased its holdings in shares of KT by 6.8% in the third quarter. Morgan Stanley now owns 9,884,987 shares of the technology company’s stock worth $126,726,000 after buying an additional 632,151 shares during the period. Institutional investors 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 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.