SK Telecom (NYSE:SKM) Upgraded to Hold at HSBC

HSBC upgraded shares of SK Telecom (NYSE:SKM) from a reduce rating to a hold rating in a research report report published on Thursday morning, Marketbeat Ratings reports.

SKM has been the subject of a number of other research reports. Citigroup downgraded SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Daiwa Securities Group downgraded SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Bank of America downgraded SK Telecom from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 18th. Wall Street Zen raised SK Telecom from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Zacks Research downgraded SK Telecom from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce”.

SK Telecom Stock Performance

Shares of SK Telecom stock traded up $0.92 on Thursday, reaching $37.22. 1,708,676 shares of the stock were exchanged, compared to its average volume of 1,753,349. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. SK Telecom has a twelve month low of $19.66 and a twelve month high of $40.49. The firm has a market capitalization of $14.28 billion, a price-to-earnings ratio of 54.81, a PEG ratio of 0.25 and a beta of 0.61. The business has a 50 day moving average price of $32.63 and a two-hundred day moving average price of $26.22.

SK Telecom (NYSE:SKM) last released its earnings results on Thursday, February 5th. The Wireless communications provider reported $10.67 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $10.57. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%.The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analysts anticipate that SK Telecom will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its position in SK Telecom by 94.2% during the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after acquiring an additional 648 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of SK Telecom in the fourth quarter valued at approximately $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of SK Telecom in the fourth quarter valued at approximately $30,000. Allworth Financial LP increased its position in shares of SK Telecom by 138.2% in the third quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 987 shares in the last quarter. Finally, Wexford Capital LP purchased a new stake in shares of SK Telecom in the third quarter valued at approximately $39,000.

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.