KT (NYSE:KT) Shares Down 4.1% – Here’s Why

Shares of KT Corporation (NYSE:KT) fell 4.1% on Monday . The company traded as low as $20.63 and last traded at $20.7420. 516,466 shares were traded during trading, a decline of 73% from the average session volume of 1,940,188 shares. The stock had previously closed at $21.64.

Wall Street Analyst Weigh In

KT has been the topic of several recent research reports. Weiss Ratings upgraded shares of KT from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, March 17th. Wall Street Zen lowered KT from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Research upgraded KT from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

KT Stock Performance

The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 0.19 and a beta of 0.62. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.24. The stock’s fifty day moving average is $21.89 and its two-hundred day moving average is $19.94.

KT (NYSE:KT) last posted its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.63 earnings per share for the quarter. KT had a net margin of 3.41% and a return on equity of 5.20%. The company had revenue of $4.74 billion during the quarter. Analysts forecast that KT Corporation will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On KT

A number of institutional investors have recently made changes to their positions in KT. Millennium Management LLC lifted its stake in KT by 4,148.2% during the first quarter. Millennium Management LLC now owns 530,817 shares of the technology company’s stock worth $9,401,000 after purchasing an additional 518,322 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of KT by 107.9% during the first quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock worth $4,290,000 after purchasing an additional 125,702 shares during the period. Natixis Advisors LLC raised its holdings in shares of KT by 39.8% during the third quarter. Natixis Advisors LLC now owns 280,713 shares of the technology company’s stock worth $5,474,000 after purchasing an additional 79,891 shares during the period. New York State Common Retirement Fund bought a new position in shares of KT in the 3rd quarter worth about $1,526,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of KT in the 3rd quarter worth about $1,190,000. 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.