SK Telecom (NYSE:SKM) Hits New 52-Week High – Here’s What Happened

SK Telecom Co., Ltd. (NYSE:SKM) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.71 and last traded at $33.40, with a volume of 2548896 shares. The stock had previously closed at $32.56.

Wall Street Analyst Weigh In

SKM has been the topic of several recent research reports. Zacks Research upgraded SK Telecom from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 29th. Wall Street Zen raised SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Citigroup cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, Daiwa Securities Group cut shares of SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, SK Telecom presently has an average rating of “Reduce”.

SK Telecom Price Performance

The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market cap of $12.12 billion, a PE ratio of 46.46, a price-to-earnings-growth ratio of 4.38 and a beta of 0.50. The stock has a 50 day moving average price of $24.10 and a two-hundred day moving average price of $22.23.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. SK Telecom had a net margin of 2.28% and a return on equity of 3.29%. The firm had revenue of $2.83 billion for the quarter. As a group, equities analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

A number of large investors have recently bought and sold shares of SKM. Kestra Advisory Services LLC purchased a new stake in SK Telecom during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp grew its position in SK Telecom by 94.2% in the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after acquiring an additional 648 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of SK Telecom in the 4th quarter valued at $30,000. Allworth Financial LP boosted its stake in SK Telecom by 138.2% during the third 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. Finally, HM Payson & Co. lifted its holdings in shares of SK Telecom by 38.9% in the 3rd quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock worth $39,000 after acquiring an additional 510 shares during 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.