KT (NYSE:KT) Cut to Buy at Wall Street Zen

KT (NYSE:KT) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

Other equities research analysts also recently issued reports about the stock. Zacks Research downgraded shares of KT from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of KT in a report on Monday, December 22nd. Two research analysts have 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, KT has a consensus rating of “Hold”.

KT Stock Performance

NYSE KT opened at $19.15 on Friday. The company has a market cap of $9.87 billion, a P/E ratio of 13.68, a PEG ratio of 0.15 and a beta of 0.67. The company has a fifty day simple moving average of $18.51 and a 200 day simple moving average of $19.58. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. KT has a 12-month low of $15.49 and a 12-month high of $21.61.

Hedge Funds Weigh In On KT

Several hedge funds have recently modified their holdings of the company. Triumph Capital Management bought a new position in KT during the third quarter worth about $47,000. Public Employees Retirement System of Ohio purchased a new stake in shares of KT during the 3rd quarter valued at approximately $1,190,000. Ameriprise Financial Inc. boosted its holdings in KT by 14.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 73,889 shares of the technology company’s stock worth $1,440,000 after buying an additional 9,113 shares during the period. Natixis Advisors LLC boosted its holdings in KT by 39.8% in the 3rd quarter. Natixis Advisors LLC now owns 280,713 shares of the technology company’s stock worth $5,474,000 after buying an additional 79,891 shares during the period. Finally, Quantbot Technologies LP purchased a new position in KT in the 3rd quarter valued at approximately $81,000. Institutional investors own 18.86% of the company’s stock.

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.