SK Telecom Co., Ltd. (NYSE:SKM) Receives Average Rating of “Reduce” from Brokerages

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have been given a consensus rating of “Reduce” by the eight ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a strong buy recommendation to the company.

SKM has been the subject of a number of research reports. Wall Street Zen raised shares of SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Bank of America cut SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 29th. Zacks Research upgraded SK Telecom from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, Daiwa Securities Group downgraded shares of SK Telecom to a “hold” rating in a report on Wednesday, January 14th.

SK Telecom Stock Performance

Shares of NYSE:SKM opened at $31.51 on Monday. The firm’s 50 day simple moving average is $26.04 and its 200-day simple moving average is $22.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.03. SK Telecom has a one year low of $19.66 and a one year high of $33.71. The firm has a market cap of $12.09 billion, a PE ratio of 46.34, a price-to-earnings-growth ratio of 4.10 and a beta of 0.49.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share (EPS) for the quarter. The firm had revenue of $2.83 billion during the quarter. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%. As a group, equities analysts predict that SK Telecom will post 2.27 EPS for the current year.

Institutional Trading of SK Telecom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Groupama Asset Managment increased its holdings in SK Telecom by 1.7% in the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock valued at $521,000 after buying an additional 418 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of SK Telecom by 21.5% during the 4th quarter. Corient Private Wealth LLC now owns 51,730 shares of the Wireless communications provider’s stock valued at $1,061,000 after acquiring an additional 9,147 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of SK Telecom in the 4th quarter valued at about $1,509,000. Millennium Management LLC raised its holdings in SK Telecom by 202.4% in the 4th quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock worth $12,448,000 after purchasing an additional 405,863 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in SK Telecom during the fourth quarter worth approximately $293,000.

SK Telecom Company Profile

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.