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

SK Telecom Co., Ltd. (NYSE:SKM) has been assigned an average recommendation of “Reduce” from the seven analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company.

Several analysts have issued reports on the stock. Citigroup downgraded shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Bank of America downgraded shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Weiss Ratings downgraded shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th.

Hedge Funds Weigh In On SK Telecom

A number of hedge funds have recently modified their holdings of the stock. Groupama Asset Managment increased its stake in shares of SK Telecom by 1.7% in the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock worth $521,000 after acquiring an additional 418 shares during the last quarter. Rhumbline Advisers increased its stake in shares of SK Telecom by 0.7% in the third quarter. Rhumbline Advisers now owns 68,552 shares of the Wireless communications provider’s stock worth $1,481,000 after acquiring an additional 500 shares during the last quarter. Vise Technologies Inc. increased its stake in shares of SK Telecom by 1.9% in the third quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock worth $595,000 after acquiring an additional 525 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of SK Telecom by 10.8% in the second quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock worth $134,000 after acquiring an additional 560 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of SK Telecom by 94.2% in the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after acquiring an additional 648 shares during the last quarter.

SK Telecom Price Performance

Shares of NYSE:SKM opened at $41.19 on Wednesday. The company’s fifty day moving average is $37.06 and its two-hundred day moving average is $29.26. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. SK Telecom has a 12-month low of $19.66 and a 12-month high of $47.18. The company has a market cap of $15.81 billion, a P/E ratio of 68.66, a price-to-earnings-growth ratio of 0.24 and a beta of 0.60.

SK Telecom (NYSE:SKM) last announced its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.98 billion. Equities analysts expect that SK Telecom will post 2.76 earnings per share for the current fiscal year.

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.