SK Telecom Co., Ltd. (NYSE:SKM) Receives Consensus Recommendation of “Hold” from Brokerages

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

SKM has been the topic of several analyst reports. Weiss Ratings raised SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Finally, Zacks Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th.

SK Telecom Trading Up 0.1%

SKM opened at $40.33 on Monday. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $47.18. The firm has a market capitalization of $15.48 billion, a PE ratio of 32.26 and a beta of 0.64. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15. The company’s 50-day moving average is $34.01 and its 200 day moving average is $34.08.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.22. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.96 billion. SK Telecom had a return on equity of 5.59% and a net margin of 4.23%. As a group, research analysts predict that SK Telecom will post 2.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Several institutional investors have recently modified their holdings of SKM. Arrowstreet Capital Limited Partnership lifted its holdings in SK Telecom by 2.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock worth $48,679,000 after acquiring an additional 60,242 shares during the period. Great Lakes Advisors LLC boosted its position in SK Telecom by 1.1% in the fourth quarter. Great Lakes Advisors LLC now owns 1,117,361 shares of the Wireless communications provider’s stock worth $22,939,000 after purchasing an additional 12,672 shares during the last quarter. Bank of America Corp DE grew its stake in SK Telecom by 9.6% in the 3rd quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock valued at $19,158,000 after purchasing an additional 77,763 shares during the period. BNP Paribas Financial Markets grew its stake in SK Telecom by 0.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 618,787 shares of the Wireless communications provider’s stock valued at $13,366,000 after purchasing an additional 2,894 shares during the period. Finally, Millennium Management LLC increased its position in shares of SK Telecom by 202.4% during the 4th quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock valued at $12,448,000 after purchasing an additional 405,863 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.