SK Telecom (NYSE:SKM) Sees Strong Trading Volume – Time to Buy?

SK Telecom Co., Ltd. (NYSE:SKM) shares saw unusually-strong trading volume on Monday . Approximately 1,795,252 shares traded hands during mid-day 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 analysts have recently issued reports on the company. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings downgraded SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. upgraded SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Finally, HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, SK Telecom presently has a consensus rating of “Reduce”.

SK Telecom Price Performance

The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 51.25, a price-to-earnings-growth ratio of 0.22 and a beta of 0.63. The stock’s fifty day moving average price is $35.47 and its two-hundred day moving average price is $32.57. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57.

SK Telecom (NYSE:SKM) last issued its earnings results 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 the consensus estimate of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. Equities research analysts expect that SK Telecom Co., Ltd. will post 2.77 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Boston Common Asset Management LLC boosted its holdings in SK Telecom by 83.1% in the fourth quarter. Boston Common Asset Management LLC now owns 362,424 shares of the Wireless communications provider’s stock valued at $7,441,000 after purchasing an additional 164,472 shares in the last quarter. Calamos Advisors LLC acquired a new stake in SK Telecom during the first quarter worth approximately $9,065,000. Teachers Retirement System of The State of Kentucky raised its holdings in SK Telecom by 18.2% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 221,300 shares of the Wireless communications provider’s stock worth $4,543,000 after purchasing an additional 34,100 shares in the last quarter. Euro Pacific Asset Management LLC lifted its position in shares of SK Telecom by 80.6% during the 1st quarter. Euro Pacific Asset Management LLC now owns 223,557 shares of the Wireless communications provider’s stock worth $6,513,000 after buying an additional 99,741 shares during the last quarter. Finally, ABN Amro Investment Solutions boosted its holdings in shares of SK Telecom by 136.8% in the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock valued at $16,647,000 after buying an additional 328,300 shares in the last quarter.

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.