SK Telecom (NYSE:SKM) Shares Gap Down – Should You Sell?

SK Telecom Co., Ltd. (NYSE:SKM)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $41.21, but opened at $38.60. SK Telecom shares last traded at $38.8710, with a volume of 826,464 shares traded.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Citigroup downgraded shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Weiss Ratings downgraded shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

SK Telecom Trading Up 0.4%

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00. The business’s fifty day simple moving average is $37.42 and its 200 day simple moving average is $29.52. The stock has a market cap of $14.56 billion, a price-to-earnings ratio of 63.26, a P/E/G ratio of 0.23 and a beta of 0.60.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results 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. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.98 billion. On average, research analysts predict that SK Telecom Co., Ltd. will post 2.76 EPS for the current year.

Hedge Funds Weigh In On SK Telecom

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC bought a new stake in SK Telecom in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp raised its holdings in shares of SK Telecom by 94.2% during the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after buying an additional 648 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of SK Telecom during the fourth quarter worth approximately $30,000. Allworth Financial LP grew its holdings in 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 in the last quarter. Finally, Wexford Capital LP acquired a new stake in SK Telecom in the 3rd quarter valued at approximately $39,000.

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.