SK Telecom (NYSE:SKM) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of SK Telecom (NYSE:SKM) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research firms have also commented on SKM. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. JPMorgan Chase & Co. upgraded SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings raised SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. One 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. According to MarketBeat, the company has an average rating of “Reduce”.

SK Telecom Stock Performance

NYSE:SKM opened at $32.35 on Friday. SK Telecom has a 1 year low of $19.66 and a 1 year high of $47.18. The firm has a 50 day moving average of $34.38 and a 200-day moving average of $34.00. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $12.42 billion, a P/E ratio of 11.30 and a beta of 0.78.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Wednesday, November 4th. The Wireless communications provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. SK Telecom had a return on equity of 9.26% and a net margin of 7.49%. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.27 billion. As a group, sell-side analysts anticipate that SK Telecom will post 3.90 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SKM. Mather Group LLC. acquired a new position in SK Telecom during the 3rd quarter worth $42,000. Matthews International Capital Management LLC increased its stake in shares of SK Telecom by 33.5% in the 1st quarter. Matthews International Capital Management LLC now owns 3,326 shares of the Wireless communications provider’s stock valued at $97,000 after buying an additional 835 shares during the period. Royal Bank of Canada increased its stake in shares of SK Telecom by 69.7% in the 1st quarter. Royal Bank of Canada now owns 4,853 shares of the Wireless communications provider’s stock valued at $142,000 after buying an additional 1,994 shares during the period. Allworth Financial LP increased its stake in shares of SK Telecom by 11.3% in the 2nd quarter. Allworth Financial LP now owns 4,990 shares of the Wireless communications provider’s stock valued at $160,000 after buying an additional 507 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of SK Telecom by 26.9% during the second quarter. GAMMA Investing LLC now owns 7,202 shares of the Wireless communications provider’s stock worth $232,000 after acquiring an additional 1,526 shares during the last quarter.

About SK Telecom

SK Telecom is a South Korean telecommunications company that provides mobile voice and data services, including 5G connectivity, to consumers and businesses. Its offerings also include internet of things and enterprise connectivity solutions.

Through its subsidiary SK Broadband, the company provides fixed-line broadband and IPTV services, including its B tv platform. SK Telecom is also developing artificial intelligence services and infrastructure, alongside data center and cloud-related offerings.

Headquartered in Seoul, SK Telecom traces its roots to Korea Mobile Telecommunications Services, established in 1984.