SK Telecom Co., Ltd. (NYSE:SKM) Receives Consensus Rating of “Reduce” from Brokerages

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have been given an average recommendation of “Reduce” by the seven brokerages that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company.

Several brokerages have recently weighed in on SKM. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Wall Street Zen raised SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Citigroup lowered SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Zacks Research lowered SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Finally, Weiss Ratings raised SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 12th.

SK Telecom Price Performance

Shares of NYSE SKM opened at $36.92 on Friday. The stock has a market cap of $14.17 billion, a PE ratio of 61.53, a price-to-earnings-growth ratio of 0.23 and a beta of 0.61. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $40.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.03. The stock has a fifty day moving average of $33.75 and a 200-day moving average of $27.08.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.98 billion. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%. Equities research analysts anticipate that SK Telecom will post 2.79 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

Large investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new stake in SK Telecom during the fourth quarter valued at $28,000. Jones Financial Companies Lllp boosted its stake 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 buying an additional 648 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in SK Telecom during the fourth quarter valued at $30,000. Allworth Financial LP boosted its stake in SK Telecom by 138.2% during 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 during the period. Finally, Wexford Capital LP bought a new stake in SK Telecom during the third quarter valued at $39,000.

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.