KT (KT) Cut to “Reduce” at Nomura

Nomura cut shares of KT (NYSE:KT) from a neutral rating to a reduce rating in a research note issued to investors on Monday.

A number of other brokerages also recently weighed in on KT. TheStreet downgraded KT from a b- rating to a c rating in a report on Tuesday, February 6th. CLSA downgraded KT from an outperform rating to an underperform rating in a report on Wednesday, January 24th. Zacks Investment Research downgraded KT from a hold rating to a sell rating in a report on Wednesday, March 21st. Morgan Stanley downgraded KT from an equal weight rating to an underweight rating in a report on Thursday, January 11th. Finally, Credit Suisse Group downgraded KT from an outperform rating to a neutral rating in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. KT has an average rating of Hold and a consensus target price of $18.00.

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Shares of KT opened at $13.46 on Monday. The stock has a market capitalization of $6,521.13, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.73 and a beta of 0.56. KT has a fifty-two week low of $12.70 and a fifty-two week high of $18.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.01.

Several hedge funds and other institutional investors have recently made changes to their positions in KT. Kiltearn Partners LLP bought a new stake in shares of KT in the 4th quarter valued at approximately $162,276,000. Edgbaston Investment Partners LLP bought a new stake in KT during the fourth quarter worth approximately $58,166,000. ANTIPODES PARTNERS Ltd boosted its position in KT by 59.4% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 8,823,114 shares of the technology company’s stock worth $137,729,000 after purchasing an additional 3,288,569 shares during the period. Boston Partners boosted its position in KT by 703.5% during the fourth quarter. Boston Partners now owns 1,172,454 shares of the technology company’s stock worth $18,302,000 after purchasing an additional 1,026,530 shares during the period. Finally, Kopernik Global Investors LLC boosted its position in KT by 51.8% during the fourth quarter. Kopernik Global Investors LLC now owns 2,359,078 shares of the technology company’s stock worth $36,825,000 after purchasing an additional 805,349 shares during the period. 26.48% of the stock is owned by institutional investors and hedge funds.

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About KT

KT Corporation provides telecommunications services in Korea. The company offers fixed-line telephone services, including local, domestic long-distance, and international long-distance fixed-line and voice over Internet protocol telephone services, as well as interconnection services; Internet phone services; broadband Internet access and other Internet-related services, including Internet protocol television (IPTV) services; and data communication services, including leased line and dedicated broadband Internet connection services to institutional customers.

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