Wall Street Zen Downgrades KT (NYSE:KT) to Buy

KT (NYSE:KT) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also issued reports on the company. Zacks Research raised KT from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. Weiss Ratings upgraded shares of KT from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

KT Trading Down 0.7%

Shares of KT stock opened at $21.69 on Friday. KT has a fifty-two week low of $16.25 and a fifty-two week high of $24.58. The business’s fifty day moving average is $21.80 and its two-hundred day moving average is $19.93. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The firm has a market cap of $10.46 billion, a PE ratio of 15.49, a P/E/G ratio of 0.19 and a beta of 0.62.

KT (NYSE:KT) last announced its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.63 EPS for the quarter. The business had revenue of $4.74 billion during the quarter. KT had a return on equity of 5.20% and a net margin of 3.41%. Analysts anticipate that KT will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KT. New York State Common Retirement Fund acquired a new stake in KT during the third quarter worth about $1,526,000. Hosking Partners LLP acquired a new position in shares of KT in the 3rd quarter valued at about $675,000. TD Private Client Wealth LLC lifted its stake in shares of KT by 47.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 15,841 shares of the technology company’s stock valued at $309,000 after purchasing an additional 5,073 shares in the last quarter. Burns Matteson Capital Management LLC grew its holdings in shares of KT by 20.2% during the 3rd quarter. Burns Matteson Capital Management LLC now owns 11,538 shares of the technology company’s stock worth $225,000 after purchasing an additional 1,941 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in shares of KT during the 4th quarter worth about $1,047,000. Institutional investors and hedge funds own 18.86% of the company’s stock.

About KT

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.