SK Telecom (NYSE:SKM) Sets New 52-Week Low – What’s Next?

Shares of SK Telecom Co., Ltd. (NYSE:SKM) hit a new 52-week low on Tuesday . The company traded as low as $19.81 and last traded at $19.8850, with a volume of 141811 shares trading hands. The stock had previously closed at $20.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of SK Telecom in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SK Telecom has a consensus rating of “Hold”.

SK Telecom Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The firm has a market cap of $7.83 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 15.17 and a beta of 0.56. The stock has a 50 day moving average price of $21.17 and a two-hundred day moving average price of $21.63.

SK Telecom (NYSE:SKM) last released its earnings results on Thursday, October 30th. The Wireless communications provider reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.56). SK Telecom had a return on equity of 8.92% and a net margin of 5.92%.The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.08 billion. As a group, equities analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in SK Telecom by 2.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock valued at $48,679,000 after purchasing an additional 60,242 shares during the last quarter. Citigroup Inc. raised its stake in shares of SK Telecom by 55.5% in the first quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider’s stock worth $25,572,000 after purchasing an additional 429,434 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of SK Telecom by 1.4% during the third quarter. Great Lakes Advisors LLC now owns 1,104,689 shares of the Wireless communications provider’s stock worth $23,861,000 after purchasing an additional 15,036 shares during the period. Bank of America Corp DE boosted its position in SK Telecom by 9.6% in the third quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock valued at $19,158,000 after buying an additional 77,763 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings 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 worth $13,366,000 after buying an additional 2,894 shares during the period.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.