SK Telecom (NYSE:SKM) Shares Gap Down – Time to Sell?

SK Telecom Co., Ltd. (NYSE:SKM) gapped down before the market opened on Tuesday . The stock had previously closed at $35.24, but opened at $31.47. SK Telecom shares last traded at $30.47, with a volume of 525,566 shares trading hands.

Analyst Upgrades and Downgrades

SKM has been the topic of several analyst reports. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Weiss Ratings cut SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

SK Telecom Stock Performance

The firm has a market cap of $11.38 billion, a P/E ratio of 49.43, a price-to-earnings-growth ratio of 0.19 and a beta of 0.63. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $35.30 and its 200-day simple moving average is $32.63.

SK Telecom (NYSE:SKM) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The firm had revenue of $2.92 billion during 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, sell-side analysts expect that SK Telecom Co., Ltd. will post 2.77 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

Several institutional investors and hedge funds have recently bought and sold shares of SKM. Kestra Advisory Services LLC purchased a new position in shares of SK Telecom during the fourth quarter valued at approximately $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of SK Telecom during the fourth quarter valued at approximately $30,000. Allworth Financial LP lifted its stake in SK Telecom by 138.2% in the third quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock worth $37,000 after acquiring an additional 987 shares during the period. Wexford Capital LP bought a new stake in SK Telecom in the third quarter valued at $39,000. Finally, Matthews International Capital Management LLC boosted its holdings in SK Telecom by 50.4% in the fourth quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after acquiring an additional 835 shares in the last quarter.

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.