KT (NYSE:KT) Hits New 12-Month Low – Should You Sell?

KT Corporation (NYSE:KT)’s share price hit a new 52-week low during mid-day trading on Monday. The stock 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.

Analyst Ratings Changes

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

KT Price Performance

The company’s fifty day moving average is $19.01 and its 200 day moving average is $19.90.

KT (NYSE:KT) last issued its earnings results on Wednesday, September 2nd. The technology company reported $0.61 EPS for the quarter. The business had revenue of $4.45 billion during the quarter. As a group, equities analysts expect that KT Corporation will post 2.06 EPS for the current fiscal year.

Institutional Trading of KT

A number of hedge funds and other institutional investors have recently modified their holdings of KT. Allworth Financial LP grew its stake in KT by 17.6% in the second quarter. Allworth Financial LP now owns 4,867 shares of the technology company’s stock worth $84,000 after purchasing an additional 727 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of KT in the second quarter worth $178,000. WINTON GROUP Ltd bought a new stake in shares of KT during the second quarter valued at about $185,000. EverSource Wealth Advisors LLC increased its stake in KT by 41.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 9,122 shares of the technology company’s stock valued at $196,000 after buying an additional 2,653 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of KT during the 1st quarter worth about $261,000. 18.86% of the stock is owned by hedge funds and other institutional investors.

KT Company Profile

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.