Zacks Investment Research Downgrades KT Corporation (KT) to Sell
KT Corporation (NYSE:KT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
According to Zacks, “KT Corporation provides telecommunication services. Its services include mobile telecommunications services, telephone services, fixed-line and VoIP telephone services. The Company also provides interconnection services to other telecommunications companies, broadband Internet access services and other Internet-related services. It also offers information technology and network services, including consulting, designing, building, and maintaining of systems and communication networks. KT Corporation, formerly known as Korea Telecom Corp., is headquartered in Sungnam, South Korea. “
Other research analysts have also issued reports about the stock. BidaskClub raised shares of KT Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Nomura raised shares of KT Corporation from a “neutral” rating to a “buy” rating in a research report on Friday, July 28th.
KT Corporation (NYSE KT) traded up $0.02 during trading on Friday, hitting $14.08. 628,660 shares of the company’s stock were exchanged, compared to its average volume of 1,400,000. KT Corporation has a 12-month low of $13.43 and a 12-month high of $18.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 1.06.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KT. Standard Life Investments LTD lifted its position in shares of KT Corporation by 26.9% during the second quarter. Standard Life Investments LTD now owns 7,241,821 shares of the technology company’s stock valued at $120,612,000 after purchasing an additional 1,533,615 shares in the last quarter. Rockefeller Financial Services Inc. lifted its position in shares of KT Corporation by 763.9% during the second quarter. Rockefeller Financial Services Inc. now owns 1,661,299 shares of the technology company’s stock valued at $27,644,000 after purchasing an additional 1,468,989 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of KT Corporation during the second quarter valued at about $6,010,000. New York State Common Retirement Fund bought a new position in shares of KT Corporation during the second quarter valued at about $5,722,000. Finally, FMR LLC lifted its position in shares of KT Corporation by 150.9% during the first quarter. FMR LLC now owns 523,212 shares of the technology company’s stock valued at $8,806,000 after purchasing an additional 314,660 shares in the last quarter. 25.11% of the stock is currently owned by institutional investors.
KT Corporation Company Profile
KT Corporation is a telecommunications service provider. The Company’s segments include the Customer/Marketing Group, the Finance Business Group and the Others Group. The Customer/Marketing Group segment is engaged in providing various telecommunication services to individual/home/corporate customers and the convergence business.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for KT Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KT Corporation and related companies with MarketBeat.com's FREE daily email newsletter.