KT (NYSE:KT) Reaches New 52-Week Low – What’s Next?

KT Corporation (NYSE:KT)’s share price hit a new 52-week low on Tuesday . The company traded as low as $17.41 and last traded at $17.4030, with a volume of 113340 shares changing hands. The stock had previously closed at $17.85.

Analyst Upgrades and Downgrades

KT has been the subject of several research analyst reports. Wall Street Zen cut shares of KT from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Bank of America lowered KT from a “buy” rating to a “neutral” rating and set a $23.08 price objective on the stock. in a research report on Thursday, May 14th. Zacks Research downgraded KT from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of KT in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, KT presently has an average rating of “Hold” and an average price target of $23.08.

KT Stock Performance

The company has a current ratio of 1.15, a quick ratio of 1.11 and a debt-to-equity ratio of 0.37. The company has a market cap of $8.60 billion, a price-to-earnings ratio of 7.89 and a beta of 0.53. The stock has a 50 day moving average price of $19.70 and a two-hundred day moving average price of $20.51.

KT (NYSE:KT) last announced its quarterly earnings data on Monday, April 13th. The technology company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.69 billion. KT had a return on equity of 8.04% and a net margin of 5.51%. Analysts predict that KT Corporation will post 2.03 EPS for the current year.

Hedge Funds Weigh In On KT

Several institutional investors have recently modified their holdings of the stock. Systematic Alpha Investments LLC bought a new stake in shares of KT in the 1st quarter valued at about $429,000. EverSource Wealth Advisors LLC boosted its stake in KT by 41.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 9,122 shares of the technology company’s stock worth $196,000 after acquiring an additional 2,653 shares during the last quarter. Bessemer Group Inc. boosted its stake in KT by 166.9% during the 1st quarter. Bessemer Group Inc. now owns 50,093 shares of the technology company’s stock worth $1,074,000 after acquiring an additional 31,327 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in KT during the first quarter valued at approximately $261,000. Finally, DGS Capital Management LLC grew its holdings in KT by 10.6% during the first quarter. DGS Capital Management LLC now owns 193,757 shares of the technology company’s stock valued at $4,156,000 after purchasing an additional 18,579 shares during the period. 18.86% of the stock is currently 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.