SK Telecom (SKM) Downgraded by CLSA to “Underperform”
CLSA lowered shares of SK Telecom (NYSE:SKM) from an outperform rating to an underperform rating in a research note released on Wednesday, The Fly reports.
A number of other research firms also recently weighed in on SKM. Citigroup upgraded shares of SK Telecom from a neutral rating to a buy rating in a report on Friday, December 1st. Zacks Investment Research upgraded shares of SK Telecom from a hold rating to a buy rating and set a $31.00 price target on the stock in a report on Friday, January 12th. Finally, Morgan Stanley restated an equal weight rating on shares of SK Telecom in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $32.00.
SK Telecom (SKM) opened at $28.16 on Wednesday. The firm has a market cap of $20,270.00, a price-to-earnings ratio of 7.67, a PEG ratio of 1.06 and a beta of 0.42. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 0.94. SK Telecom has a twelve month low of $21.14 and a twelve month high of $28.97.
Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in SK Telecom in the 3rd quarter worth $101,000. FNY Managed Accounts LLC bought a new position in SK Telecom in the 3rd quarter worth $119,000. Fieldpoint Private Securities LLC bought a new position in SK Telecom in the 3rd quarter worth $122,000. Picton Mahoney Asset Management bought a new position in SK Telecom in the 2nd quarter worth $194,000. Finally, Bessemer Group Inc. raised its holdings in SK Telecom by 66.9% in the 3rd quarter. Bessemer Group Inc. now owns 7,569 shares of the Wireless communications provider’s stock worth $186,000 after acquiring an additional 3,033 shares during the period. Institutional investors and hedge funds own 11.40% of the company’s stock.
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SK Telecom Company Profile
SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.
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