SK Telecom (NYSE:SKM) Issues Earnings Results

SK Telecom (NYSE:SKM) issued its quarterly earnings data on Friday. The Wireless communications provider reported ($0.29) EPS for the quarter, FiscalAI reports. SK Telecom had a net margin of 3.60% and a return on equity of 5.29%.

SK Telecom Trading Up 0.5%

NYSE:SKM opened at $20.26 on Friday. SK Telecom has a 1 year low of $19.73 and a 1 year high of $23.80. The stock’s fifty day moving average price is $20.56 and its two-hundred day moving average price is $21.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.01. The company has a market cap of $7.98 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.32 and a beta of 0.51.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of SK Telecom in a report on Monday. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Institutional Trading of SK Telecom

A number of hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in SK Telecom during the 2nd quarter valued at about $313,000. Ballentine Partners LLC acquired a new stake in SK Telecom in the 2nd quarter worth approximately $472,000. LPL Financial LLC grew its stake in SK Telecom by 17.3% during the 1st quarter. LPL Financial LLC now owns 88,665 shares of the Wireless communications provider’s stock valued at $1,885,000 after purchasing an additional 13,070 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of SK Telecom by 239.0% in the 1st quarter. Hsbc Holdings PLC now owns 49,326 shares of the Wireless communications provider’s stock valued at $1,046,000 after acquiring an additional 34,776 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of SK Telecom by 46.9% in the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock worth $5,531,000 after buying an additional 83,030 shares during the last quarter.

SK Telecom Company Profile

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.