KT (NYSE:KT) Announces Earnings Results

KT (NYSE:KT) released its earnings results on Wednesday. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07, FiscalAI reports. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.56 billion. KT had a net margin of 5.51% and a return on equity of 8.04%.

KT Trading Down 0.5%

KT traded down $0.09 during trading hours on Wednesday, reaching $18.45. The company’s stock had a trading volume of 427,120 shares, compared to its average volume of 1,676,083. KT has a fifty-two week low of $17.13 and a fifty-two week high of $24.58. The stock has a market cap of $8.90 billion, a PE ratio of 8.16, a P/E/G ratio of 5.13 and a beta of 0.54. The business’s 50-day moving average is $18.13 and its 200-day moving average is $20.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.11.

Hedge Funds Weigh In On KT

Hedge funds have recently modified their holdings of the business. Triumph Capital Management acquired a new stake in shares of KT during the 3rd quarter worth about $47,000. Quantbot Technologies LP purchased a new position in KT during the third quarter worth about $81,000. Arax Advisory Partners increased its position in shares of KT by 512.7% during the fourth 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 during the last quarter. NewEdge Advisors LLC increased its position in shares of KT by 20,894.8% during the first quarter. NewEdge Advisors LLC now owns 20,365 shares of the technology company’s stock valued at $361,000 after acquiring an additional 20,268 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its stake in shares of KT by 105.6% in the 4th quarter. Arkadios Wealth Advisors now owns 20,853 shares of the technology company’s stock valued at $396,000 after acquiring an additional 10,712 shares during the period. 18.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KT shares. Zacks Research upgraded KT from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings cut KT from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Wall Street Zen downgraded KT from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Bank of America cut shares of KT from a “buy” rating to a “neutral” rating and set a $23.08 price target on the stock. in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, KT presently has an average rating of “Hold” and an average price target of $23.08.

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.