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

SK Telecom Co., Ltd. (NYSE:SKM) has received an average recommendation of “Reduce” from the six ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company.

Several research firms have weighed in on SKM. HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Weiss Ratings cut shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th.

Institutional Trading of SK Telecom

A number of hedge funds have recently made changes to their positions in SKM. Groupama Asset Managment raised 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 worth $521,000 after purchasing an additional 418 shares in the last quarter. Vise Technologies Inc. boosted its holdings in shares of SK Telecom by 1.9% during the 3rd quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock valued at $595,000 after buying an additional 525 shares in the last quarter. EverSource Wealth Advisors LLC grew its position 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 worth $134,000 after buying an additional 560 shares during the period. TD Asset Management Inc grew its position in shares of SK Telecom by 5.8% in the 3rd quarter. TD Asset Management Inc now owns 12,915 shares of the Wireless communications provider’s stock worth $279,000 after buying an additional 709 shares during the period. Finally, PDS Planning Inc increased its stake in shares of SK Telecom by 5.6% in the 4th quarter. PDS Planning Inc now owns 14,397 shares of the Wireless communications provider’s stock worth $296,000 after acquiring an additional 767 shares in the last quarter.

SK Telecom Price Performance

NYSE:SKM traded up $0.42 during mid-day trading on Friday, hitting $33.20. 1,312,588 shares of the stock traded hands, compared to its average volume of 2,230,034. The business’s 50-day moving average price is $36.73 and its 200 day moving average price is $31.45. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. The company has a market cap of $12.74 billion, a PE ratio of 55.33, a price-to-earnings-growth ratio of 0.20 and a beta of 0.63. SK Telecom has a 12-month low of $19.66 and a 12-month high of $47.18.

SK Telecom (NYSE:SKM) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. On average, analysts expect that SK Telecom will post 2.76 EPS for the current fiscal year.

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.