KT (NYSE:KT) Announces Quarterly Earnings Results

KT (NYSE:KT) announced its quarterly earnings results on Wednesday. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07, FiscalAI reports. KT had a return on equity of 8.04% and a net margin of 5.51%.The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.56 billion.

KT Trading Down 0.2%

KT traded down $0.04 during trading on Wednesday, hitting $18.50. The company’s stock had a trading volume of 449,450 shares, compared to its average volume of 1,676,214. KT has a twelve month low of $17.13 and a twelve month high of $24.58. The firm has a market capitalization of $8.92 billion, a P/E ratio of 8.19, a PEG ratio of 5.13 and a beta of 0.54. The stock’s fifty day moving average price is $18.13 and its 200-day moving average price is $20.28. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.37.

Analysts Set New Price Targets

A number of brokerages have recently commented on KT. Wall Street Zen lowered shares of KT from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Bank of America lowered shares of KT from a “buy” rating to a “neutral” rating and set a $23.08 price objective on the stock. in a research note on Thursday, May 14th. Zacks Research upgraded shares of KT from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings downgraded shares of KT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.08.

Institutional Trading of KT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Triumph Capital Management bought a new position in shares of KT in the third quarter valued at approximately $47,000. Quantbot Technologies LP bought a new stake in shares of KT in the 3rd quarter worth $81,000. Arax Advisory Partners lifted its position in shares of KT by 512.7% during the fourth quarter. Arax Advisory Partners now owns 10,918 shares of the technology company’s stock valued at $207,000 after purchasing an additional 9,136 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in KT by 20,894.8% during the first quarter. NewEdge Advisors LLC now owns 20,365 shares of the technology company’s stock worth $361,000 after purchasing an additional 20,268 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in shares of KT by 105.6% in the fourth quarter. Arkadios Wealth Advisors now owns 20,853 shares of the technology company’s stock valued at $396,000 after acquiring an additional 10,712 shares in the last quarter. 18.86% of the stock is owned by institutional investors.

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.