KT (NYSE:KT) Downgraded to Buy Rating by StockNews.com

StockNews.com downgraded shares of KT (NYSE:KT) from a strong-buy rating to a buy rating in a report released on Thursday.

Separately, UBS Group assumed coverage on KT in a research report on Wednesday. They issued a “buy” rating for the company.

KT Stock Up 1.4 %

Shares of NYSE:KT opened at $17.56 on Thursday. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 0.36 and a beta of 0.95. KT has a fifty-two week low of $12.10 and a fifty-two week high of $18.45. The firm’s 50-day simple moving average is $16.59 and its 200-day simple moving average is $15.86. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 0.28.

KT (NYSE:KT) last released its earnings results on Tuesday, November 26th. The technology company reported $0.54 earnings per share (EPS) for the quarter. KT had a return on equity of 6.20% and a net margin of 4.42%. As a group, equities research analysts predict that KT will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors acquired a new stake in shares of KT in the 4th quarter worth approximately $135,833,000. Wellington Management Group LLP grew its holdings in KT by 392.0% in the fourth quarter. Wellington Management Group LLP now owns 9,917,081 shares of the technology company’s stock valued at $153,913,000 after purchasing an additional 7,901,522 shares during the last quarter. North of South Capital LLP increased its position in shares of KT by 2,407.3% in the fourth quarter. North of South Capital LLP now owns 4,217,653 shares of the technology company’s stock valued at $65,458,000 after buying an additional 4,049,439 shares in the last quarter. Ninety One UK Ltd acquired a new position in shares of KT during the 4th quarter worth $59,145,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of KT by 44.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,608,115 shares of the technology company’s stock worth $55,493,000 after buying an additional 1,101,669 shares in the last quarter. 18.86% of the stock is owned by hedge funds and other institutional investors.

About KT

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.