KT (NYSE:KT) Releases Earnings Results, Beats Expectations By $0.07 EPS

by · The Markets Daily

KT (NYSE:KT – Get Free Report) issued its quarterly earnings data on Wednesday. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07, FiscalAI reports. KT had a return on equity of 8.04% and a net margin of 5.51%.The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.56 billion.

KT Stock Up 0.4%

Shares of KT stock traded up $0.07 on Friday, reaching $19.04. The company’s stock had a trading volume of 922,987 shares, compared to its average volume of 1,679,155. KT has a 52 week low of $17.13 and a 52 week high of $24.58. The firm’s fifty day simple moving average is $18.15 and its two-hundred day simple moving average is $20.27. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 8.42, a P/E/G ratio of 5.43 and a beta of 0.54. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 0.37.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Analysis on KT

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KT. Royal Bank of Canada boosted its holdings in KT by 1.1% in the first quarter. Royal Bank of Canada now owns 102,808 shares of the technology company’s stock worth $1,820,000 after purchasing an additional 1,078 shares during the last quarter. Triumph Capital Management bought a new position in shares of KT in the 3rd quarter worth approximately $47,000. Quantbot Technologies LP purchased a new stake in KT in the third quarter worth about $81,000. Ameriprise Financial Inc. boosted its position in shares of KT by 14.1% in the third quarter. Ameriprise Financial Inc. now owns 73,889 shares of the technology company’s stock worth $1,440,000 after purchasing an additional 9,113 shares during the period. Finally, Arax Advisory Partners increased its stake in shares of KT by 512.7% in the fourth quarter. Arax Advisory Partners now owns 10,918 shares of the technology company’s stock worth $207,000 after purchasing an additional 9,136 shares in the last quarter. 18.86% of the stock is owned by hedge funds and other institutional investors.

About KT

(Get Free Report)

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.

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