KT (NYSE:KT) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• KT reported quarterly EPS of $0.59, beating analyst expectations by $0.07, while revenue of $4.31 billion fell short of the $4.56 billion consensus estimate.
• Shares slipped $0.09 to $18.45 following the results. KT has an $8.90 billion market capitalization and trades near the lower half of its 52-week range of $17.13 to $24.58.
• Analysts have generally taken a cautious stance, with multiple firms downgrading KT to “Hold” or “Neutral.” The stock has an average “Hold” rating and a consensus price target of $23.08.

KT (NYSE:KT - Get Free Report) issued its quarterly earnings data on Wednesday. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07, FiscalAI reports. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.56 billion. KT had a net margin of 5.51% and a return on equity of 8.04%.

KT Price Performance

Shares of KT stock traded down $0.09 during trading hours on Wednesday, reaching $18.45. The stock had a trading volume of 427,120 shares, compared to its average volume of 1,676,083. The stock's 50 day moving average is $18.13 and its 200 day moving average is $20.28. The firm has a market capitalization of $8.90 billion, a PE ratio of 8.16, a PEG ratio of 5.13 and a beta of 0.54. KT has a twelve month low of $17.13 and a twelve month high of $24.58. The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 0.37.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KT shares. Weiss Ratings downgraded shares of KT from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 31st. Bank of America lowered KT from a "buy" rating to a "neutral" rating and set a $23.08 price objective for the company. in a research note on Thursday, May 14th. Wall Street Zen cut KT from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Finally, Zacks Research raised KT from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $23.08.

Institutional Trading of KT

Several institutional investors have recently bought and sold shares of KT. Public Employees Retirement System of Ohio purchased a new stake in shares of KT during the third quarter worth about $1,190,000. Ameriprise Financial Inc. lifted its position in shares of KT by 14.1% in the third quarter. Ameriprise Financial Inc. now owns 73,889 shares of the technology company's stock valued at $1,440,000 after acquiring an additional 9,113 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of KT by 39.8% in the third quarter. Natixis Advisors LLC now owns 280,713 shares of the technology company's stock worth $5,474,000 after acquiring an additional 79,891 shares during the last quarter. Lazard Asset Management LLC raised its stake in KT by 1.2% in the 2nd quarter. Lazard Asset Management LLC now owns 3,250,513 shares of the technology company's stock valued at $67,545,000 after purchasing an additional 37,744 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in KT by 107.9% in the 1st quarter. Jane Street Group LLC now owns 242,212 shares of the technology company's stock valued at $4,290,000 after purchasing an additional 125,702 shares during the last quarter. 18.86% of the stock is owned by institutional investors and hedge funds.

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.

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