SK Telecom (NYSE:SKM) Rating Lowered to “Hold” at Wall Street Zen

SK Telecom (NYSE:SKM) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Thursday.

Other equities research analysts have also recently issued reports about the company. New Street Research raised SK Telecom to a “hold” rating in a research note on Monday, May 19th. The Goldman Sachs Group cut SK Telecom from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut SK Telecom from an “overweight” rating to a “neutral” rating in a research note on Monday, May 12th. UBS Group began coverage on SK Telecom in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, Citigroup cut SK Telecom from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, SK Telecom has an average rating of “Hold”.

SK Telecom Price Performance

Shares of SKM stock opened at $20.55 on Thursday. The firm has a market cap of $8.09 billion, a P/E ratio of 8.39, a P/E/G ratio of 1.27 and a beta of 0.63. SK Telecom has a fifty-two week low of $19.84 and a fifty-two week high of $24.58. The business’s 50 day moving average price is $21.37 and its 200-day moving average price is $21.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91.

SK Telecom (NYSE:SKM) last issued its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. On average, equities research analysts anticipate that SK Telecom will post 2.27 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

Hedge funds have recently added to or reduced their stakes in the stock. Principal Securities Inc. lifted its holdings in shares of SK Telecom by 147.7% during the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider’s stock valued at $25,000 after purchasing an additional 721 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SK Telecom during the first quarter valued at $37,000. SVB Wealth LLC bought a new position in shares of SK Telecom during the first quarter valued at $42,000. Brooklyn Investment Group lifted its holdings in shares of SK Telecom by 854.4% during the first quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider’s stock valued at $49,000 after purchasing an additional 2,059 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of SK Telecom by 55.0% during the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider’s stock valued at $53,000 after purchasing an additional 884 shares in the last quarter.

SK Telecom Company Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.