KT (NYSE:KT) Sets New 52-Week Low – What’s Next?

KT Corporation (NYSE:KT) reached a new 52-week low during trading on Monday . The company traded as low as $17.34 and last traded at $17.42, with a volume of 93894 shares traded. The stock had previously closed at $17.65.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wall Street Zen cut KT from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Bank of America downgraded shares of KT from a “buy” rating to a “neutral” rating and set a $23.08 target price for the company. in a research report on Thursday, May 14th. Weiss Ratings restated a “buy (b)” rating on shares of KT in a research note on Friday, June 12th. Finally, Zacks Research cut shares of KT from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, KT presently has an average rating of “Hold” and an average target price of $23.08.

KT Price Performance

The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 7.65 and a beta of 0.53. The company has a 50-day simple moving average of $19.29 and a two-hundred day simple moving average of $20.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.11.

KT (NYSE:KT) last released its quarterly earnings results on Monday, April 13th. The technology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.69 billion. KT had a net margin of 5.51% and a return on equity of 8.04%. On average, equities research analysts predict that KT Corporation will post 2.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of KT by 1.1% during the first quarter. Royal Bank of Canada now owns 102,808 shares of the technology company’s stock valued at $1,820,000 after purchasing an additional 1,078 shares during the period. Millennium Management LLC grew its position in KT by 4,148.2% in the 1st quarter. Millennium Management LLC now owns 530,817 shares of the technology company’s stock valued at $9,401,000 after buying an additional 518,322 shares in the last quarter. NewEdge Advisors LLC increased its stake in KT by 20,894.8% during the 1st quarter. NewEdge Advisors LLC now owns 20,365 shares of the technology company’s stock valued at $361,000 after buying an additional 20,268 shares during the period. Jane Street Group LLC increased its stake in KT by 107.9% during the 1st quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock valued at $4,290,000 after buying an additional 125,702 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of KT by 1.2% during the 2nd quarter. Lazard Asset Management LLC now owns 3,250,513 shares of the technology company’s stock worth $67,545,000 after buying an additional 37,744 shares in the last quarter. 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.