SK Telecom (NYSE:SKM) Sees Unusually-High Trading Volume – What’s Next?

Shares of SK Telecom Co., Ltd. (NYSE:SKM) saw unusually-high trading volume on Monday . 1,795,252 shares were traded during trading, a decline of 17% from the previous session’s volume of 2,168,439 shares.The stock last traded at $35.86 and had previously closed at $35.67.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings cut SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, JPMorgan Chase & Co. raised shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, SK Telecom presently has an average rating of “Reduce”.

SK Telecom Price Performance

The stock has a market cap of $13.56 billion, a price-to-earnings ratio of 59.10, a P/E/G ratio of 0.22 and a beta of 0.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15. The stock’s 50 day simple moving average is $35.63 and its two-hundred day simple moving average is $32.39.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. On average, analysts forecast that SK Telecom Co., Ltd. will post 2.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Several large investors have recently modified their holdings of SKM. Robeco Institutional Asset Management B.V. lifted its position in shares of SK Telecom by 17.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after buying an additional 374,428 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in SK Telecom by 2.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock worth $48,679,000 after acquiring an additional 60,242 shares in the last quarter. Great Lakes Advisors LLC raised its stake in SK Telecom by 1.1% during the fourth quarter. Great Lakes Advisors LLC now owns 1,117,361 shares of the Wireless communications provider’s stock worth $22,939,000 after acquiring an additional 12,672 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of SK Telecom by 1.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 923,579 shares of the Wireless communications provider’s stock valued at $18,961,000 after acquiring an additional 12,848 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of SK Telecom by 9.6% during the third quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock valued at $19,158,000 after acquiring an additional 77,763 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.