SK Telecom Co., Ltd. (NYSE:SKM) Given Consensus Recommendation of “Reduce” by Analysts

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have received an average recommendation of “Reduce” from the seven research firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company.

Several research analysts have recently commented on the company. Bank of America lowered SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Zacks Research downgraded SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Finally, Citigroup downgraded SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th.

SK Telecom Trading Up 2.2%

SKM opened at $37.97 on Friday. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of 63.29, a PEG ratio of 0.23 and a beta of 0.61. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. SK Telecom has a 12 month low of $19.66 and a 12 month high of $40.49. The stock has a fifty day moving average price of $34.09 and a 200-day moving average price of $27.32.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%. As a group, equities research analysts anticipate that SK Telecom will post 2.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKM. Royal Bank of Canada grew its stake in SK Telecom by 8.2% during the 1st quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock worth $936,000 after buying an additional 3,316 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in SK Telecom during the 1st quarter valued at about $85,000. Millennium Management LLC grew its stake in SK Telecom by 160.7% during the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock valued at $4,823,000 after purchasing an additional 139,829 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in SK Telecom by 46.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock valued at $5,531,000 after purchasing an additional 83,030 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in SK Telecom by 10.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after purchasing an additional 560 shares during the last quarter.

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.