KT (NYSE:KT – Get Free Report) issued its earnings results on Wednesday. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07, FiscalAI reports. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.56 billion. KT had a net margin of 5.51% and a return on equity of 8.04%.
KT Price Performance
Shares of NYSE KT traded up $0.07 during midday trading on Friday, reaching $19.04. 830,576 shares of the company were exchanged, compared to its average volume of 1,678,989. The stock’s 50-day moving average price is $18.15 and its 200-day moving average price is $20.27. The stock has a market cap of $9.18 billion, a P/E ratio of 8.43, a PEG ratio of 5.43 and a beta of 0.54. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. KT has a one year low of $17.13 and a one year high of $24.58.
Analyst Upgrades and Downgrades
KT has been the subject of several recent analyst reports. Weiss Ratings cut KT from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Zacks Research raised KT from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Wall Street Zen lowered KT from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Bank of America cut KT from a “buy” rating to a “neutral” rating and set a $23.08 target price on the stock. in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, KT has an average rating of “Hold” and an average target price of $23.08.
Institutional Investors Weigh In On KT
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in KT by 1.1% in the first quarter. Royal Bank of Canada now owns 102,808 shares of the technology company’s stock valued at $1,820,000 after purchasing an additional 1,078 shares during the last quarter. Millennium Management LLC increased 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 valued at $9,401,000 after buying an additional 518,322 shares during the period. NewEdge Advisors LLC increased its stake in shares of KT by 20,894.8% in the first quarter. NewEdge Advisors LLC now owns 20,365 shares of the technology company’s stock valued at $361,000 after buying an additional 20,268 shares during the period. Jane Street Group LLC raised its holdings in KT by 107.9% in the 1st quarter. Jane Street Group LLC now owns 242,212 shares of the technology company’s stock valued at $4,290,000 after buying an additional 125,702 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in KT by 1.2% in the 2nd quarter. Lazard Asset Management LLC now owns 3,250,513 shares of the technology company’s stock valued at $67,545,000 after buying an additional 37,744 shares during the last quarter. 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.
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