KT (NYSE:KT) Hits New 12-Month High – Here’s Why

KT Corporation (NYSE:KT)’s share price hit a new 52-week high on Friday . The company traded as high as $24.58 and last traded at $24.46, with a volume of 952045 shares changing hands. The stock had previously closed at $24.15.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded KT from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of KT in a research report on Monday, December 29th. Finally, Zacks Research raised shares of KT from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, KT has an average rating of “Hold”.

KT Stock Performance

The stock has a market cap of $12.65 billion, a PE ratio of 17.52, a PEG ratio of 0.21 and a beta of 0.65. The stock has a fifty day simple moving average of $20.21 and a two-hundred day simple moving average of $19.59. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.24.

Institutional Investors Weigh In On KT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC boosted 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 during the last quarter. Jane Street Group LLC lifted its stake in shares of KT by 107.9% in the first quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock worth $4,290,000 after acquiring an additional 125,702 shares in the last quarter. Natixis Advisors LLC boosted its holdings in KT by 39.8% in the third quarter. Natixis Advisors LLC now owns 280,713 shares of the technology company’s stock valued at $5,474,000 after purchasing an additional 79,891 shares during the last quarter. New York State Common Retirement Fund purchased a new position in KT in the third quarter valued at about $1,526,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in KT during the 3rd quarter valued at approximately $1,190,000. Hedge funds and other institutional investors 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.