SK Telecom Co., Ltd. (NYSE:SKM) Given Consensus Rating of “Reduce” by Analysts

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have been assigned a consensus rating of “Reduce” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company.

A number of analysts have issued reports on SKM shares. Daiwa Securities Group downgraded SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Wall Street Zen raised SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings raised SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 12th. Zacks Research downgraded SK Telecom from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Bank of America downgraded SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th.

SK Telecom Stock Performance

NYSE:SKM opened at $38.01 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00. SK Telecom has a 1 year low of $19.66 and a 1 year high of $40.49. The stock’s 50 day simple moving average is $31.79 and its two-hundred day simple moving average is $25.28. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 55.90, a PEG ratio of 0.25 and a beta of 0.46.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $10.57. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%.The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.02 billion. As a group, equities analysts anticipate that SK Telecom will post 2.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Large investors have recently modified their holdings of the stock. Boston Common Asset Management LLC increased its position in shares of SK Telecom by 83.1% during the 4th quarter. Boston Common Asset Management LLC now owns 362,424 shares of the Wireless communications provider’s stock valued at $7,441,000 after purchasing an additional 164,472 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of SK Telecom during the 3rd quarter valued at approximately $1,415,000. North of South Capital LLP bought a new position in shares of SK Telecom during the 3rd quarter valued at approximately $1,133,000. Caprock Group LLC bought a new position in shares of SK Telecom during the 3rd quarter valued at approximately $1,804,000. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of SK Telecom by 17.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock valued at $50,561,000 after purchasing an additional 374,428 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.