SK Telecom (NYSE:SKM) Upgraded to Hold at Zacks Research

SK Telecom (NYSE:SKM) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on SKM. Bank of America lowered shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Citigroup cut SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

SK Telecom Stock Down 5.1%

SK Telecom stock opened at $36.69 on Tuesday. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 61.14, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. SK Telecom has a 52 week low of $19.66 and a 52 week high of $40.49. The business’s 50-day moving average price is $35.00 and its 200 day moving average price is $27.94. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

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. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%.The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.98 billion. As a group, sell-side analysts anticipate that SK Telecom will post 2.76 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. increased its holdings in SK Telecom by 17.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after purchasing an additional 374,428 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in SK Telecom by 2.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock worth $48,679,000 after purchasing an additional 60,242 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in SK Telecom by 1.1% during the 4th quarter. Great Lakes Advisors LLC now owns 1,117,361 shares of the Wireless communications provider’s stock worth $22,939,000 after purchasing an additional 12,672 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in SK Telecom by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 923,579 shares of the Wireless communications provider’s stock worth $18,961,000 after purchasing an additional 12,848 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in SK Telecom by 9.6% during the 3rd quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock worth $19,158,000 after purchasing an additional 77,763 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.