PNC Financial Services Group Inc. Raises Holdings in SK Telecom Co., Ltd. $SKM

PNC Financial Services Group Inc. grew its position in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 39.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,906 shares of the Wireless communications provider’s stock after buying an additional 14,290 shares during the period. PNC Financial Services Group Inc.’s holdings in SK Telecom were worth $1,045,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its position in shares of SK Telecom by 17.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock valued at $50,561,000 after buying an additional 374,428 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of SK Telecom by 2.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock valued at $48,679,000 after purchasing an additional 60,242 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of SK Telecom by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 923,579 shares of the Wireless communications provider’s stock valued at $18,961,000 after purchasing an additional 12,848 shares during the period. Bank of America Corp DE raised its stake in shares of SK Telecom by 9.6% during the 3rd quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock valued at $19,158,000 after purchasing an additional 77,763 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of SK Telecom by 0.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 618,787 shares of the Wireless communications provider’s stock valued at $13,366,000 after purchasing an additional 2,894 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup lowered SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Bank of America lowered SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Weiss Ratings lowered SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Finally, HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

SK Telecom Price Performance

Shares of NYSE SKM opened at $37.32 on Friday. The firm has a market capitalization of $14.32 billion, a P/E ratio of 62.20, a P/E/G ratio of 0.23 and a beta of 0.61. 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’s 50-day simple moving average is $35.30 and its two-hundred day simple moving average is $28.13. SK Telecom Co., Ltd. has a twelve month low of $19.66 and a twelve month high of $40.49.

SK Telecom (NYSE:SKM) last announced its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%. As a group, equities analysts anticipate that SK Telecom Co., Ltd. will post 2.76 EPS for the current fiscal year.

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.