SK Telecom Co., Ltd. (NYSE:SKM) Receives Average Rating of “Reduce” from Analysts

SK Telecom Co., Ltd. (NYSE:SKM) has been given an average recommendation of “Reduce” by the seven analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company.

SKM has been the subject of several recent analyst reports. Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. JPMorgan Chase & Co. upgraded SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings lowered SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new stake in shares of SK Telecom during the 4th quarter valued at approximately $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in SK Telecom in the fourth quarter worth $30,000. Allworth Financial LP boosted 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 worth $37,000 after purchasing an additional 987 shares during the period. Wexford Capital LP bought a new stake in SK Telecom during the third quarter valued at $39,000. Finally, Matthews International Capital Management LLC increased its stake in SK Telecom by 50.4% during the fourth quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after purchasing an additional 835 shares during the last quarter.

SK Telecom Stock Performance

SK Telecom stock opened at $29.66 on Thursday. SK Telecom has a 52 week low of $19.66 and a 52 week high of $47.18. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57. The stock has a market cap of $11.38 billion, a P/E ratio of 49.43, a price-to-earnings-growth ratio of 0.19 and a beta of 0.63. The stock has a 50 day moving average of $35.30 and a 200-day moving average of $32.63.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. On average, analysts expect that SK Telecom will post 2.77 EPS for the current fiscal year.

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.