KT (NYSE:KT) Reaches New 12-Month High – Should You Buy?

KT Corporation (NYSE:KT)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $23.24 and last traded at $22.71, with a volume of 2449456 shares trading hands. The stock had previously closed at $21.77.

Wall Street Analysts Forecast Growth

KT has been the subject of several recent analyst reports. Wall Street Zen downgraded KT from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 28th. Zacks Research raised shares of KT from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KT in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

KT Stock Up 4.3%

The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. The business’s 50-day simple moving average is $19.49 and its 200-day simple moving average is $19.42. The company has a market capitalization of $11.71 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 0.20 and a beta of 0.65.

Institutional Investors Weigh In On KT

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of KT by 1.1% during the 1st quarter. Royal Bank of Canada now owns 102,808 shares of the technology company’s stock valued at $1,820,000 after buying an additional 1,078 shares during the last quarter. Millennium Management LLC boosted its stake in shares of KT by 4,148.2% in the first quarter. Millennium Management LLC now owns 530,817 shares of the technology company’s stock worth $9,401,000 after buying an additional 518,322 shares during the last quarter. NewEdge Advisors LLC grew its holdings in KT by 20,894.8% during the first quarter. NewEdge Advisors LLC now owns 20,365 shares of the technology company’s stock worth $361,000 after acquiring an additional 20,268 shares during the period. Jane Street Group LLC raised its position in KT by 107.9% during the first quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock valued at $4,290,000 after acquiring an additional 125,702 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in KT by 18.1% in the second quarter. Janney Montgomery Scott LLC now owns 34,857 shares of the technology company’s stock valued at $724,000 after acquiring an additional 5,352 shares during the period. 18.86% of the stock is owned by hedge funds and other institutional investors.

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.