Zacks Investment Research cut shares of SK Telecom Co.,Ltd (NYSE:SKM) from a buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “SK Telecom Co. is the world’s first commercial CDMA digital cellular service. As of September 30, 1997, they have provided the highest quality service for more than 4 million cellular customers which includes 2.3 million digital cellular customers, and 7.1 million paging customers. “

NYSE:SKM opened at $27.72 on Wednesday. SK Telecom Co.,Ltd has a 52 week low of $17.26 and a 52 week high of $28.01. The stock’s fifty day moving average is $25.43 and its two-hundred day moving average is $24.24. The company has a market capitalization of $20.16 billion, a P/E ratio of 20.53 and a beta of 0.88. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.41.

SK Telecom Co.,Ltd (NYSE:SKM) last issued its quarterly earnings data on Wednesday, February 3rd. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter. SK Telecom Co.,Ltd had a return on equity of 4.70% and a net margin of 5.85%. The firm had revenue of $4.33 billion during the quarter. Sell-side analysts anticipate that SK Telecom Co.,Ltd will post 1.79 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of SKM. Bessemer Group Inc. increased its holdings in SK Telecom Co.,Ltd by 73.8% in the 4th quarter. Bessemer Group Inc. now owns 2,372 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 1,007 shares during the last quarter. JustInvest LLC lifted its stake in SK Telecom Co.,Ltd by 4.7% during the 4th quarter. JustInvest LLC now owns 38,891 shares of the Wireless communications provider’s stock worth $71,000 after acquiring an additional 1,757 shares in the last quarter. JJJ Advisors Inc. lifted its stake in SK Telecom Co.,Ltd by 404.8% during the 4th quarter. JJJ Advisors Inc. now owns 3,816 shares of the Wireless communications provider’s stock worth $93,000 after acquiring an additional 3,060 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in SK Telecom Co.,Ltd by 25.4% during the 4th quarter. Lindbrook Capital LLC now owns 4,313 shares of the Wireless communications provider’s stock valued at $106,000 after acquiring an additional 873 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in SK Telecom Co.,Ltd by 9.0% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,039 shares of the Wireless communications provider’s stock valued at $148,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 8.05% of the company’s stock.

SK Telecom Co.,Ltd Company Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The Cellular Services segment offers wireless voice and data transmission, cellular global roaming, interconnection, Internet of Things, and platform services, as well as sells smartphones, basic phones, tablets and other Internet access devices, and wearable devices.

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