SK Telecom (NYSE:SKM) Shares Gap Down – What’s Next?

SK Telecom Co., Ltd. (NYSE:SKM) shares gapped down before the market opened on Thursday . The stock had previously closed at $31.50, but opened at $29.60. SK Telecom shares last traded at $29.71, with a volume of 1,010,780 shares.

Wall Street Analysts Forecast Growth

SKM has been the subject of a number of recent analyst reports. Citigroup downgraded shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Wall Street Zen raised shares of SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Zacks Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Daiwa Securities Group downgraded shares of SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Finally, Bank of America cut shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

SK Telecom Trading Down 4.6%

The firm’s 50-day moving average price is $26.04 and its 200 day moving average price is $22.75. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 44.18, a P/E/G ratio of 4.10 and a beta of 0.49. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Groupama Asset Managment boosted 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 worth $521,000 after acquiring an additional 418 shares in the last quarter. Rhumbline Advisers raised its position in shares of SK Telecom by 0.7% during the third quarter. Rhumbline Advisers now owns 68,552 shares of the Wireless communications provider’s stock worth $1,481,000 after purchasing an additional 500 shares during the period. HM Payson & Co. lifted its holdings in shares of SK Telecom by 38.9% in the 3rd quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock worth $39,000 after purchasing an additional 510 shares in the last quarter. Vise Technologies Inc. grew its position in SK Telecom by 1.9% in the 3rd quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock valued at $595,000 after purchasing an additional 525 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in SK Telecom by 10.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after purchasing an additional 560 shares during the period.

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.