SK Telecom (NYSE:SKM) Shares Up 6% – What’s Next?

SK Telecom Co., Ltd. (NYSE:SKM) shares traded up 6% during mid-day trading on Tuesday . The company traded as high as $30.98 and last traded at $30.62. 602,790 shares were traded during trading, a decline of 64% from the average session volume of 1,676,865 shares. The stock had previously closed at $28.88.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SKM shares. Daiwa Securities Group lowered shares of SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Zacks Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Bank of America cut SK Telecom from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 18th. Citigroup cut SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Wall Street Zen upgraded SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

SK Telecom Stock Up 7.4%

The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market cap of $11.91 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 3.98 and a beta of 0.48. The firm has a fifty day moving average of $28.26 and a 200 day moving average of $23.41.

SK Telecom (NYSE:SKM) last issued its earnings results on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share for the quarter, topping the consensus estimate of $0.10 by $10.57. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%.The business had revenue of $214.28 billion for the quarter, compared to analyst estimates of $3.02 billion. On average, equities research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Several hedge funds have recently modified their holdings of SKM. Hsbc Holdings PLC grew its stake in shares of SK Telecom by 70.8% during the 4th quarter. Hsbc Holdings PLC now owns 39,997 shares of the Wireless communications provider’s stock worth $821,000 after purchasing an additional 16,574 shares during the period. Corient Private Wealth LLC boosted its holdings in SK Telecom by 21.5% during the fourth quarter. Corient Private Wealth LLC now owns 51,730 shares of the Wireless communications provider’s stock worth $1,062,000 after buying an additional 9,147 shares in the last quarter. Groupama Asset Managment increased its holdings in SK Telecom by 1.7% in the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock valued at $521,000 after buying an additional 418 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of SK Telecom during the 4th quarter valued at approximately $1,509,000. Finally, Millennium Management LLC boosted its stake in shares of SK Telecom by 202.4% during the 4th quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock worth $12,448,000 after acquiring an additional 405,863 shares in 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.