KT (NYSE:KT) Sets New 52-Week Low – Here’s What Happened

KT Corporation (NYSE:KT) reached a new 52-week low during trading on Monday. The company traded as low as $16.88 and last traded at $16.7920, with a volume of 30,198 shares traded. The stock had previously closed at $17.32.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KT shares. Weiss Ratings raised KT from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Zacks Research upgraded shares of KT from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.08.

KT Trading Down 2.3%

The company has a market cap of $8.16 billion, a P/E ratio of 9.09, a PEG ratio of 4.23 and a beta of 0.56. The business has a 50 day moving average price of $19.11 and a 200-day moving average price of $19.16. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35.

KT (NYSE:KT) last posted its earnings results on Wednesday, September 2nd. The technology company reported $0.61 earnings per share (EPS) for the quarter. The company had revenue of $4.45 billion during the quarter. KT had a net margin of 4.72% and a return on equity of 6.45%. Analysts forecast that KT Corporation will post 2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD boosted its holdings in shares of KT by 7.3% in the 3rd quarter. Mondrian Investment Partners LTD now owns 2,620,126 shares of the technology company’s stock worth $49,651,000 after purchasing an additional 177,892 shares in the last quarter. Vest Financial LLC raised its position in shares of KT by 1.9% during the 3rd quarter. Vest Financial LLC now owns 82,429 shares of the technology company’s stock valued at $1,562,000 after buying an additional 1,524 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of KT by 21.8% in the third quarter. Vontobel Holding Ltd. now owns 96,783 shares of the technology company’s stock valued at $1,834,000 after purchasing an additional 17,338 shares during the period. GAMMA Investing LLC raised its stake in KT by 7.8% in the third quarter. GAMMA Investing LLC now owns 22,052 shares of the technology company’s stock worth $418,000 after buying an additional 1,604 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in KT in the second quarter worth about $185,000. 18.86% of the stock is currently owned by institutional investors.

About KT

KT Corporation is a South Korean telecommunications and technology company headquartered in Seoul. Formerly known as Korea Telecom, the company traces its origins to 1981 and was fully privatized in 2002. Its American depositary shares trade on the New York Stock Exchange under the symbol KT.

KT provides fixed-line and wireless telecommunications services, including mobile voice and data, broadband internet, and internet protocol television. The company also offers digital services such as cloud computing, data center operations, information and communications technology solutions, and enterprise networking for businesses and public-sector organizations.

KT primarily serves customers in South Korea while supporting international business clients through its global telecommunications and technology networks.