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 research note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $23.08 price target on the technology company’s stock. Bank of America‘s price target would suggest a potential upside of 17.82% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Wall Street Zen downgraded KT from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings raised KT from a “hold (c+)” rating to a “buy (b)” rating in a research note 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.08.

KT Stock Performance

Shares of KT stock opened at $19.59 on Thursday. The company has a market capitalization of $9.45 billion, a PE ratio of 7.80, a PEG ratio of 7.61 and a beta of 0.59. KT has a 12 month low of $17.54 and a 12 month high of $24.58. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $21.64 and its 200 day simple moving average is $20.49.

KT (NYSE:KT) last issued its quarterly earnings data on Monday, April 13th. The technology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.69 billion. KT had a return on equity of 9.21% and a net margin of 6.15%. On average, research analysts predict that KT will post 2.06 EPS for the current year.

Institutional Trading of KT

Hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund acquired a new stake in shares of KT in the 3rd quarter valued at about $1,526,000. Arkadios Wealth Advisors bought a new position in shares of KT in the 3rd quarter valued at about $198,000. Arax Advisory Partners grew its holdings in shares of KT by 512.7% in the 4th quarter. Arax Advisory Partners now owns 10,918 shares of the technology company’s stock valued at $207,000 after acquiring an additional 9,136 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of KT in the 3rd quarter valued at about $81,000. Finally, Triumph Capital Management bought a new position in shares of KT in the 3rd quarter valued at about $47,000. Institutional investors and hedge funds 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.