SK Telecom Co., Ltd. (NYSE:SKM) Stock Now Rated “Reduce” by Sell-Side Analysts

SK Telecom Co., Ltd. (NYSE:SKM) has received an average rating of “Reduce” from the seven research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company.

SKM has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of SK Telecom from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings raised shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th.

SK Telecom Trading Up 3.6%

NYSE:SKM opened at $34.29 on Friday. SK Telecom has a twelve month low of $19.66 and a twelve month high of $47.18. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average price of $34.20 and a two-hundred day moving average price of $34.09. The company has a market cap of $13.16 billion, a P/E ratio of 12.38 and a beta of 0.78.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Wednesday, November 4th. The Wireless communications provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. The company had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.27 billion. SK Telecom had a net margin of 7.49% and a return on equity of 9.26%. As a group, analysts expect that SK Telecom will post 3.90 EPS for the current fiscal year.

Institutional Trading of SK Telecom

Several institutional investors and hedge funds have recently bought and sold shares of SKM. Robeco Institutional Asset Management B.V. grew its stake in SK Telecom by 14.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,923,202 shares of the Wireless communications provider’s stock valued at $102,049,000 after purchasing an additional 366,561 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of SK Telecom during the 2nd quarter worth approximately $42,869,000. BlueCrest Capital Management Ltd acquired a new position in shares of SK Telecom during the 2nd quarter worth approximately $24,120,000. Allspring Global Investments Holdings LLC raised its stake in shares of SK Telecom by 1.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 512,970 shares of the Wireless communications provider’s stock worth $18,257,000 after purchasing an additional 5,855 shares in the last quarter. Finally, ABN Amro Investment Solutions raised its stake in shares of SK Telecom by 136.8% during the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock worth $16,647,000 after purchasing an additional 328,300 shares in the last quarter.

About SK Telecom

SK Telecom is a South Korean telecommunications company that provides mobile voice and data services, including 5G connectivity, to consumers and businesses. Its offerings also include internet of things and enterprise connectivity solutions. Through its subsidiary SK Broadband, the company provides fixed-line broadband and IPTV services, including its B tv platform. SK Telecom is also developing artificial intelligence services and infrastructure, alongside data center and cloud-related offerings.