SK Telecom (NYSE:SKM) Stock Rating Lowered by Bank of America

SK Telecom (NYSE:SKM) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a report released on Wednesday,Finviz reports.

Several other equities research analysts also recently weighed in on the company. Zacks Research raised SK Telecom from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Wall Street Zen upgraded SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Daiwa Securities Group downgraded shares of SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

SK Telecom Stock Performance

NYSE SKM traded down $1.56 during trading hours on Wednesday, hitting $31.87. 2,001,291 shares of the company’s stock traded hands, compared to its average volume of 1,739,767. SK Telecom has a 52 week low of $19.66 and a 52 week high of $33.71. The business’s fifty day moving average price is $23.63 and its two-hundred day moving average price is $22.10. The firm has a market capitalization of $12.23 billion, a P/E ratio of 47.17, a P/E/G ratio of 4.48 and a beta of 0.50. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Friday, December 12th. The Wireless communications provider reported ($0.29) EPS for the quarter. SK Telecom had a net margin of 2.28% and a return on equity of 3.29%. The firm had revenue of $2.83 billion for the quarter. Equities research analysts predict that SK Telecom will post 2.27 EPS for the current year.

Institutional Trading of SK Telecom

Hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp raised its position in SK Telecom by 94.2% in the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after acquiring an additional 648 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in SK Telecom during the fourth quarter worth about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in SK Telecom during the fourth quarter worth about $30,000. Allworth Financial LP increased its holdings in SK Telecom by 138.2% in the third quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 987 shares in the last quarter. Finally, HM Payson & Co. lifted its position in shares of SK Telecom by 38.9% during the 3rd quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock valued at $39,000 after acquiring an additional 510 shares during the period.

About SK Telecom

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.