SK Telecom (NYSE:SKM) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of SK Telecom (NYSE:SKM) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, SK Telecom presently has a consensus rating of “Reduce”.

SK Telecom Stock Performance

SK Telecom stock opened at $34.42 on Monday. The firm has a market capitalization of $13.21 billion, a P/E ratio of 27.54 and a beta of 0.72. The stock has a fifty day moving average price of $36.73 and a two-hundred day moving average price of $35.81. SK Telecom has a 52-week low of $19.66 and a 52-week high of $47.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.22.

SK Telecom (NYSE:SKM) last issued its earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.59 by $0.22. SK Telecom had a net margin of 4.23% and a return on equity of 5.30%. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.96 billion. As a group, analysts anticipate that SK Telecom will post 2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of SK Telecom by 4.2% during the third quarter. GAMMA Investing LLC now owns 7,503 shares of the Wireless communications provider’s stock worth $262,000 after acquiring an additional 301 shares during the period. Groupama Asset Managment lifted its position in SK Telecom by 1.7% in the 4th quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock valued at $521,000 after acquiring an additional 418 shares in the last quarter. QRG Capital Management Inc. lifted its position in SK Telecom by 2.7% in the 2nd quarter. QRG Capital Management Inc. now owns 19,069 shares of the Wireless communications provider’s stock valued at $613,000 after acquiring an additional 504 shares in the last quarter. Allworth Financial LP boosted its stake in SK Telecom by 11.3% in the 2nd quarter. Allworth Financial LP now owns 4,990 shares of the Wireless communications provider’s stock worth $160,000 after purchasing an additional 507 shares during the period. Finally, Matthews International Capital Management LLC boosted its stake in SK Telecom by 33.5% in the 1st quarter. Matthews International Capital Management LLC now owns 3,326 shares of the Wireless communications provider’s stock worth $97,000 after purchasing an additional 835 shares during the period.

SK Telecom Company Profile

SK Telecom Co, Ltd. is a South Korean telecommunications company and a member of the SK Group. Headquartered in Seoul, the company provides mobile communications services, including voice, messaging, wireless data, 5G connectivity and related subscription services, primarily in South Korea.

Through its affiliates and business operations, SK Telecom also offers fixed-line broadband internet, internet protocol television and media services. Its enterprise portfolio includes cloud computing, data center services, information and communication technology solutions, artificial intelligence and Internet of Things services for businesses and public-sector customers.

The company traces its origins to Korea Mobile Telecommunications, established in 1984, and adopted the SK Telecom name in 1998 following its incorporation into the SK Group.