KT (NYSE:KT) Hits New 1-Year Low – What’s Next?

Shares of KT Corporation (NYSE:KT) reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $16.88 and last traded at $16.7920, with a volume of 30,198 shares traded. The stock had previously closed at $17.32.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KT. Zacks Research upgraded shares of KT from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of KT from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, KT presently has a consensus rating of “Hold” and a consensus target price of $23.08.

KT Stock Performance

The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. The stock has a 50-day simple moving average of $19.11 and a 200-day simple moving average of $19.16. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 4.23 and a beta of 0.56.

KT (NYSE:KT) last announced its earnings results on Wednesday, September 2nd. The technology company reported $0.61 earnings per share for the quarter. The firm had revenue of $4.45 billion for the quarter. KT had a return on equity of 6.45% and a net margin of 4.72%. On average, analysts anticipate that KT Corporation will post 2.06 earnings per share for the current year.

Hedge Funds Weigh In On KT

Several large investors have recently bought and sold shares of KT. Janney Montgomery Scott LLC lifted its position in KT by 1.4% during the first quarter. Janney Montgomery Scott LLC now owns 33,164 shares of the technology company’s stock worth $711,000 after buying an additional 470 shares during the period. Allworth Financial LP raised its stake in KT by 17.6% during the second quarter. Allworth Financial LP now owns 4,867 shares of the technology company’s stock valued at $84,000 after buying an additional 727 shares in the last quarter. Vest Financial LLC grew its position in shares of KT by 1.9% during the 3rd quarter. Vest Financial LLC now owns 82,429 shares of the technology company’s stock valued at $1,562,000 after buying an additional 1,524 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of KT by 7.8% during the third quarter. GAMMA Investing LLC now owns 22,052 shares of the technology company’s stock valued at $418,000 after buying an additional 1,604 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in KT by 41.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 9,122 shares of the technology company’s stock valued at $196,000 after buying an additional 2,653 shares during the period. 18.86% of the stock is currently owned by institutional investors and hedge funds.

KT Company Profile

KT Corporation is a South Korean telecommunications and technology company headquartered in Seoul. Formerly known as Korea Telecom, the company traces its origins to 1981 and was fully privatized in 2002. Its American depositary shares trade on the New York Stock Exchange under the symbol KT.

KT provides fixed-line and wireless telecommunications services, including mobile voice and data, broadband internet, and internet protocol television. The company also offers digital services such as cloud computing, data center operations, information and communications technology solutions, and enterprise networking for businesses and public-sector organizations.

KT primarily serves customers in South Korea while supporting international business clients through its global telecommunications and technology networks.