KT (NYSE:KT) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

Shares of KT Corporation (NYSE:KT) crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $18.80 and traded as high as $19.15. KT shares last traded at $18.9450, with a volume of 3,880,881 shares changing hands.

KT News Roundup

Here are the key news stories impacting KT this week:

• Neutral Sentiment: Reports say the KT Wiz changed its baseball lineup after an injury and adjusted its batting approach; another article discusses bullpen performance in the Korean Series. These sports developments are unlikely to have a material effect on KT Corporation’s financial results. Lineup report Korean Series report
• Neutral Sentiment: The story about Ccigmaa building personal-care brands is unrelated to KT Corporation. Ccigmaa article
• Neutral Sentiment: The reported e-cigarette patent dispute and record quarterly results/shareholder-return plan concern KT&G, a different company, not KT Corporation. They should not be treated as catalysts for KT shares. KT&G dispute report KT&G results and shareholder-return report

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Weiss Ratings downgraded shares of KT from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 30th. Zacks Research upgraded KT from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.08.

KT Price Performance

The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.35. The firm’s fifty day simple moving average is $18.80 and its 200-day simple moving average is $19.84. The firm has a market capitalization of $9.14 billion, a PE ratio of 10.19, a PEG ratio of 4.23 and a beta of 0.62.

KT (NYSE:KT) last issued its quarterly earnings results on Wednesday, September 2nd. The technology company reported $0.61 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%. On average, research analysts forecast that KT Corporation will post 2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KT

Several hedge funds have recently added to or reduced their stakes in KT. Allworth Financial LP lifted its stake in shares of KT by 17.6% during the 2nd quarter. Allworth Financial LP now owns 4,867 shares of the technology company’s stock valued at $84,000 after buying an additional 727 shares in the last quarter. Engineers Gate Manager LP purchased a new position in KT in the 2nd quarter valued at about $178,000. WINTON GROUP Ltd acquired a new stake in KT in the second quarter valued at $185,000. EverSource Wealth Advisors LLC lifted its stake in KT by 41.0% during the first quarter. EverSource Wealth Advisors LLC now owns 9,122 shares of the technology company’s stock valued at $196,000 after purchasing an additional 2,653 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of KT in the third quarter worth about $199,000. Institutional investors own 18.86% of the company’s stock.

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.