SK Telecom (NYSE:SKM) Stock Rating Raised to “Strong-Buy” at Zacks Research

SK Telecom (NYSE:SKM) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. upgraded SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings upgraded SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Finally, Wall Street Zen lowered shares of SK Telecom from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.

SK Telecom Trading Up 3.6%

NYSE SKM opened at $34.29 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.49. SK Telecom has a 1-year low of $19.66 and a 1-year high of $47.18. The firm’s fifty day simple moving average is $34.20 and its 200-day simple moving average is $34.09. The company has a market capitalization of $13.16 billion, a PE ratio of 12.38 and a beta of 0.78.

SK Telecom (NYSE:SKM) last released 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. SK Telecom had a return on equity of 9.26% and a net margin of 7.49%. The firm had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.27 billion. As a group, sell-side analysts anticipate that SK Telecom will post 3.90 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Institutional investors have recently bought and sold shares of the stock. ABN Amro Investment Solutions boosted 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 acquiring an additional 328,300 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of SK Telecom in the 2nd quarter valued at approximately $965,000. Robeco Institutional Asset Management B.V. raised its stake in shares of SK Telecom by 14.3% in the 3rd 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 acquiring an additional 366,561 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of SK Telecom in the 3rd quarter valued at approximately $2,181,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in SK Telecom by 5,390.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 33,821 shares of the Wireless communications provider’s stock worth $1,078,000 after purchasing an additional 33,205 shares during 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.