KT (NYSE:KT) Downgraded by Wall Street Zen to "Buy"

Key Points

• KT was downgraded from a "strong-buy" rating to a "buy" rating by Wall Street Zen, indicating a shift in analysts' perspective on the stock.
• Despite the downgrade, Zacks Research and Weiss Ratings maintain varying positive outlooks, with Weiss reaffirming a "buy" rating, contributing to an average rating of "Moderate Buy" for KT according to MarketBeat.com.
• As of the latest report, KT's stock price fell to $19.68, with a market cap of $10.15 billion and an anticipated earnings per share (EPS) of 0.73 for the current fiscal year.

KT (NYSE:KT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Friday.

A number of other brokerages have also weighed in on KT. Zacks Research lowered shares of KT from a "strong-buy" rating to a "hold" rating in a report on Monday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of KT in a research report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

KT Trading Down 1.0%

Shares of KT traded down $0.20 during mid-day trading on Friday, reaching $19.68. The company had a trading volume of 724,229 shares, compared to its average volume of 1,564,584. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 0.14 and a beta of 0.70. The firm has a fifty day simple moving average of $20.10 and a 200-day simple moving average of $19.56. KT has a fifty-two week low of $14.79 and a fifty-two week high of $21.61. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.41.

KT (NYSE:KT - Get Free Report) last announced its quarterly earnings results on Friday, September 5th. The technology company reported $1.01 earnings per share for the quarter. The company had revenue of $5.31 billion for the quarter. KT had a net margin of 3.35% and a return on equity of 5.06%. On average, sell-side analysts anticipate that KT will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On KT

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in KT by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,612,820 shares of the technology company's stock worth $187,954,000 after buying an additional 388,592 shares in the last quarter. Wellington Management Group LLP lifted its holdings in KT by 2.0% in the 1st quarter. Wellington Management Group LLP now owns 10,115,990 shares of the technology company's stock worth $179,154,000 after buying an additional 198,909 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in KT by 18.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 5,547,691 shares of the technology company's stock worth $98,250,000 after buying an additional 875,840 shares in the last quarter. Ninety One UK Ltd lifted its holdings in KT by 28.3% in the 1st quarter. Ninety One UK Ltd now owns 4,890,767 shares of the technology company's stock worth $86,615,000 after buying an additional 1,079,860 shares in the last quarter. Finally, Boston Partners lifted its holdings in KT by 193.2% in the 1st quarter. Boston Partners now owns 3,658,852 shares of the technology company's stock worth $64,806,000 after buying an additional 2,410,971 shares in the last quarter. Institutional investors and hedge funds own 18.86% of the company's stock.

KT Company Profile

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.

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