Wall Street Zen Upgrades SK Telecom (NYSE:SKM) to “Hold”

SK Telecom (NYSE:SKM) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

SKM has been the subject of a number of other research reports. Zacks Research raised shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Daiwa Securities Group downgraded SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SK Telecom in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold”.

SK Telecom Stock Performance

Shares of NYSE:SKM opened at $28.41 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.03. The business has a 50-day simple moving average of $22.14 and a two-hundred day simple moving average of $21.67. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $30.29.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) EPS for the quarter. SK Telecom had a return on equity of 5.30% and a net margin of 3.60%.The company had revenue of $2.83 billion during the quarter. Equities research analysts forecast that SK Telecom will post 2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. West Family Investments Inc. purchased a new stake in SK Telecom in the 2nd quarter worth $416,000. North of South Capital LLP purchased a new position in shares of SK Telecom in the third quarter valued at about $1,133,000. Atria Investments Inc bought a new position in shares of SK Telecom in the second quarter worth about $504,000. Quadrant Capital Group LLC boosted its stake in shares of SK Telecom by 1,406.1% in the second quarter. Quadrant Capital Group LLC now owns 108,303 shares of the Wireless communications provider’s stock worth $2,529,000 after acquiring an additional 101,112 shares during the period. Finally, Creative Planning grew its position in shares of SK Telecom by 600.0% during the second quarter. Creative Planning now owns 167,169 shares of the Wireless communications provider’s stock worth $3,903,000 after purchasing an additional 143,287 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.