SK Telecom (NYSE:SKM) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

SK Telecom Co., Ltd. (NYSE:SKM)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.77 and traded as high as $32.74. SK Telecom shares last traded at $32.3090, with a volume of 1,743,080 shares.

Analyst Upgrades and Downgrades

SKM has been the subject of several research analyst reports. Weiss Ratings lowered shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of SK Telecom from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Four analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

SK Telecom Trading Down 0.8%

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15. The firm has a market cap of $12.24 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 0.20 and a beta of 0.60. The company’s 50 day moving average price is $37.52 and its 200 day moving average price is $30.94.

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 the consensus estimate of $0.47 by $0.10. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. As a group, analysts forecast that SK Telecom Co., Ltd. will post 2.76 EPS for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of SK Telecom by 8.2% in the 1st quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock valued at $936,000 after buying an additional 3,316 shares during the period. Cubist Systematic Strategies LLC purchased a new position in SK Telecom in the first quarter worth approximately $85,000. Millennium Management LLC grew its holdings in SK Telecom by 160.7% during the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock worth $4,823,000 after acquiring an additional 139,829 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of SK Telecom by 46.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock valued at $5,531,000 after purchasing an additional 83,030 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of SK Telecom by 10.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after purchasing an additional 560 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.