SK Telecom (NYSE:SKM) Cut to Underperform at Bank of America

Bank of America cut shares of SK Telecom (NYSE:SKM) from a neutral rating to an underperform rating in a report issued on Wednesday, MarketBeat reports.

A number of other brokerages also recently weighed in on SKM. Zacks Research raised SK Telecom from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Daiwa Securities Group lowered shares of SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Wall Street Zen raised shares of SK Telecom from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

SK Telecom Stock Down 2.0%

SKM stock opened at $31.14 on Wednesday. The firm has a market cap of $11.95 billion, a PE ratio of 45.80, a PEG ratio of 4.45 and a beta of 0.50. SK Telecom has a 1 year low of $19.66 and a 1 year high of $33.71. The company has a fifty day simple moving average of $24.32 and a 200 day simple moving average of $22.29. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68.

SK Telecom (NYSE:SKM) last posted its earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) EPS for the quarter. SK Telecom had a return on equity of 3.29% and a net margin of 2.28%.The business had revenue of $2.83 billion for the quarter. Sell-side analysts anticipate that SK Telecom will post 2.27 EPS for the current fiscal year.

Institutional Trading of SK Telecom

A number of hedge funds have recently bought and sold shares of SKM. Jones Financial Companies Lllp grew its position in SK Telecom by 94.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after purchasing an additional 648 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of SK Telecom in the fourth quarter valued at about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of SK Telecom in the fourth quarter valued at about $30,000. Allworth Financial LP grew its position in SK Telecom by 138.2% during the third quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 987 shares in the last quarter. Finally, HM Payson & Co. increased its stake in SK Telecom by 38.9% during the third quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock valued at $39,000 after acquiring an additional 510 shares during the period.

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.