KT (NYSE:KT) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• KT (NYSE:KT) crossed above its 200-day moving average, trading as high as $21.67 versus a 200‑day MA of $20.32, with last trade around $21.33 on roughly 1.06 million shares.
• Analyst sentiment is mixed—Zacks moved KT to "hold" and Weiss Ratings to "buy" while Wall Street Zen downgraded to "hold", leaving an average consensus of "Moderate Buy".
• KT reported quarterly EPS of $0.16 (missing the $0.18 estimate) and revenue of $4.72B (slightly above $4.69B); the company trades at a PE of 8.5 with a market cap near $10.3B.

Shares of KT Corporation (NYSE:KT - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.32 and traded as high as $21.67. KT shares last traded at $21.3270, with a volume of 1,063,444 shares.

Analysts Set New Price Targets

KT has been the topic of several research reports. Zacks Research raised shares of KT from a "strong sell" rating to a "hold" rating in a research note on Thursday, January 8th. Weiss Ratings raised shares of KT from a "hold (c+)" rating to a "buy (b)" rating in a research note on Tuesday, March 17th. Finally, Wall Street Zen downgraded shares of KT from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, KT presently has an average rating of "Moderate Buy".

KT Trading Down 1.6%

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.20 and a quick ratio of 1.16. The firm's 50 day moving average is $22.34 and its 200 day moving average is $20.32. The company has a market capitalization of $10.28 billion, a PE ratio of 8.50, a P/E/G ratio of 7.75 and a beta of 0.64.

KT (NYSE:KT - Get Free Report) last issued its earnings results on Monday, April 13th. The technology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). KT had a return on equity of 9.20% and a net margin of 6.15%.The firm had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.69 billion. As a group, equities analysts predict that KT Corporation will post 2.22 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Triumph Capital Management purchased a new position in shares of KT in the third quarter worth $47,000. Quantbot Technologies LP purchased a new position in shares of KT in the third quarter worth $81,000. Westpac Banking Corp purchased a new position in shares of KT in the fourth quarter worth $157,000. SG Americas Securities LLC purchased a new position in shares of KT in the fourth quarter worth $163,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of KT in the third quarter worth $198,000. 18.86% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.