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

Shares of SK Telecom Co., Ltd. (NYSE:SKM) gapped down prior to trading on Tuesday . The stock had previously closed at $35.24, but opened at $31.47. SK Telecom shares last traded at $30.47, with a volume of 525,566 shares trading hands.

Wall Street Analyst Weigh In

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

SK Telecom Stock Performance

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 has a 50-day moving average price of $35.60 and a 200-day moving average price of $32.49. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of 51.53, a PEG ratio of 0.22 and a beta of 0.63.

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 firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. As a group, analysts forecast that SK Telecom Co., Ltd. will post 2.77 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

A number of large investors have recently added to or reduced their stakes in SKM. Robeco Institutional Asset Management B.V. raised its stake in SK Telecom by 17.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock valued at $50,561,000 after purchasing an additional 374,428 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position 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 valued at $48,679,000 after purchasing an additional 60,242 shares in the last quarter. Great Lakes Advisors LLC raised its position 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 valued at $22,939,000 after purchasing an additional 12,672 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 worth $18,961,000 after purchasing an additional 12,848 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in 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 worth $19,158,000 after purchasing an additional 77,763 shares during the last quarter.

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.