SK Telecom (NYSE:SKM) Rating Lowered to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of SK Telecom (NYSE:SKM) from an overweight rating to a neutral rating in a research note released on Monday morning, MarketBeat.com reports.

Several other research firms have also recently commented on SKM. Citigroup cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. UBS Group began coverage on shares of SK Telecom in a report on Wednesday, February 19th. They set a “buy” rating for the company. StockNews.com downgraded shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group downgraded shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, SK Telecom presently has an average rating of “Hold”.

SK Telecom Trading Down 0.1%

Shares of SKM stock opened at $20.15 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a market capitalization of $7.94 billion, a P/E ratio of 8.22, a price-to-earnings-growth ratio of 1.27 and a beta of 0.63. The company has a 50 day moving average price of $21.50 and a 200 day moving average price of $21.85. SK Telecom has a fifty-two week low of $19.84 and a fifty-two week high of $24.58.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Equities research analysts predict that SK Telecom will post 2.27 EPS for the current fiscal year.

Institutional Trading of SK Telecom

Several institutional investors have recently modified their holdings of SKM. JPMorgan Chase & Co. lifted its position in shares of SK Telecom by 2,337.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,748 shares of the Wireless communications provider’s stock worth $422,000 after buying an additional 17,020 shares during the last quarter. GAMMA Investing LLC raised its position in SK Telecom by 34.4% in the 4th quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock valued at $64,000 after purchasing an additional 773 shares during the last quarter. Aprio Wealth Management LLC raised its position in SK Telecom by 42.4% in the 4th quarter. Aprio Wealth Management LLC now owns 13,856 shares of the Wireless communications provider’s stock valued at $292,000 after purchasing an additional 4,128 shares during the last quarter. Green Alpha Advisors LLC raised its position in SK Telecom by 3.3% in the 4th quarter. Green Alpha Advisors LLC now owns 52,996 shares of the Wireless communications provider’s stock valued at $1,115,000 after purchasing an additional 1,706 shares during the last quarter. Finally, Kathmere Capital Management LLC purchased a new stake in SK Telecom in the 4th quarter valued at $270,000.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.