KT (NYSE:KT) Stock Rating Lowered by Bank of America

KT (NYSE:KT) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday. They currently have a $23.08 price objective on the technology company’s stock. Bank of America‘s target price would suggest a potential upside of 12.89% from the company’s current price.

Several other research firms have also commented on KT. Wall Street Zen lowered shares of KT from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings upgraded shares of KT from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.08.

KT Stock Down 0.6%

Shares of KT opened at $20.45 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.19 and a quick ratio of 1.15. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 8.15, a price-to-earnings-growth ratio of 7.35 and a beta of 0.59. KT has a 1 year low of $17.54 and a 1 year high of $24.58. The business’s 50 day simple moving average is $21.76 and its 200-day simple moving average is $20.48.

KT (NYSE:KT) last posted its earnings results on Monday, April 13th. The technology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). KT had a net margin of 6.15% and a return on equity of 9.21%. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.69 billion. As a group, equities analysts expect that KT will post 2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KT. Janney Montgomery Scott LLC raised its holdings in shares of KT by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 33,164 shares of the technology company’s stock worth $711,000 after buying an additional 470 shares during the period. Royal Bank of Canada grew its position in KT by 1.1% in the 1st quarter. Royal Bank of Canada now owns 102,808 shares of the technology company’s stock valued at $1,820,000 after acquiring an additional 1,078 shares during the last quarter. Farther Finance Advisors LLC grew its position in KT by 10.1% in the 4th quarter. Farther Finance Advisors LLC now owns 12,826 shares of the technology company’s stock valued at $243,000 after acquiring an additional 1,172 shares during the last quarter. DGS Capital Management LLC increased its stake in KT by 1.4% in the fourth quarter. DGS Capital Management LLC now owns 175,178 shares of the technology company’s stock worth $3,323,000 after purchasing an additional 2,400 shares during the period. Finally, Triumph Capital Management bought a new stake in shares of KT during the third quarter worth $47,000. Institutional investors own 18.86% of the company’s stock.

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.