SK Telecom (NYSE:SKM) Hits New 12-Month High – Here’s What Happened

SK Telecom Co., Ltd. (NYSE:SKM)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $23.95 and last traded at $23.3950, with a volume of 1256 shares trading hands. The stock had previously closed at $23.35.

Analysts Set New Price Targets

Several equities analysts have issued reports on SKM shares. Wall Street Zen downgraded shares of SK Telecom from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Daiwa Capital Markets cut shares of SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of SK Telecom in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

SK Telecom Price Performance

The stock’s fifty day moving average price is $20.41 and its 200-day moving average price is $21.25. The firm has a market cap of $9.13 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 0.74 and a beta of 0.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.03.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. SK Telecom had a return on equity of 5.30% and a net margin of 3.60%. As a group, equities analysts expect that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

A number of institutional investors have recently added to or reduced their stakes in SKM. Jones Financial Companies Lllp grew its holdings in SK Telecom by 94.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after buying an additional 648 shares in the last quarter. Allworth Financial LP raised its holdings in shares of SK Telecom by 138.2% during the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock worth $37,000 after acquiring an additional 987 shares during the period. Farther Finance Advisors LLC boosted its position in shares of SK Telecom by 1,780.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,674 shares of the Wireless communications provider’s stock valued at $39,000 after acquiring an additional 1,585 shares during the last quarter. HM Payson & Co. grew its holdings in shares of SK Telecom by 38.9% in the third quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock valued at $39,000 after purchasing an additional 510 shares during the period. Finally, Wexford Capital LP purchased a new stake in shares of SK Telecom in the third quarter valued at about $39,000.

SK Telecom Company Profile

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.