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

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

SKM has been the topic of several recent research reports. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Weiss Ratings cut SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. raised shares of SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SKM. Kestra Advisory Services LLC acquired a new stake in shares of SK Telecom in the fourth quarter valued at approximately $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 fourth quarter valued at approximately $30,000. Allworth Financial LP boosted its position in shares of 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. Wexford Capital LP acquired a new position in shares of SK Telecom during the third quarter worth approximately $39,000. Finally, Matthews International Capital Management LLC grew its holdings in 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 in the last quarter.

SK Telecom Stock Performance

Shares of NYSE SKM opened at $29.66 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $35.30 and its two-hundred day moving average price is $32.63. SK Telecom has a 52-week low of $19.66 and a 52-week high of $47.18. The stock has a market capitalization of $11.38 billion, a P/E ratio of 49.43, a P/E/G ratio of 0.19 and a beta of 0.63.

SK Telecom (NYSE:SKM) last posted its earnings results 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 company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. As a group, sell-side analysts forecast that SK Telecom will post 2.77 earnings per share for the current 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.