SK Telecom Co., Ltd. (NYSE:SKM) Given Average Recommendation of “Reduce” by Brokerages

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have been given a consensus recommendation of “Reduce” by the seven brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company.

A number of brokerages have commented on SKM. HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. JPMorgan Chase & Co. raised shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings lowered shares of SK Telecom from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, July 29th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SKM. Kestra Advisory Services LLC bought a new position in SK Telecom in the fourth quarter worth $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of SK Telecom during the 4th quarter valued at $30,000. Allworth Financial LP grew its position in shares of SK Telecom by 138.2% in the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 987 shares during the period. Wexford Capital LP purchased a new stake in shares of SK Telecom in the 3rd quarter worth about $39,000. Finally, Matthews International Capital Management LLC grew its position in shares of SK Telecom by 50.4% in the 4th quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock worth $51,000 after buying an additional 835 shares during the period.

SK Telecom Stock Performance

SK Telecom stock opened at $34.88 on Thursday. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $47.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. The stock has a market cap of $13.39 billion, a P/E ratio of 58.14, a price-to-earnings-growth ratio of 0.21 and a beta of 0.64. The firm’s fifty day moving average price is $34.81 and its 200-day moving average price is $33.07.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Wednesday, August 5th. The Wireless communications provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.22. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $2.96 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. On average, equities research analysts expect that SK Telecom will post 2.76 earnings per share 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.