SK Telecom Co., Ltd. (NYSE:SKM) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have earned a consensus rating of “Reduce” from the seven brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company.

A number of research firms have issued reports on SKM. Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Bank of America cut shares of SK Telecom from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 18th. Weiss Ratings cut shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Citigroup cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd.

SK Telecom Trading Up 3.9%

SK Telecom stock opened at $41.19 on Wednesday. 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 company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 68.66, a PEG ratio of 0.24 and a beta of 0.60. SK Telecom has a one year low of $19.66 and a one year high of $47.18. The company’s fifty day moving average price is $37.06 and its two-hundred day moving average price is $29.26.

SK Telecom (NYSE:SKM) last posted its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.47 by $0.10. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. On average, analysts forecast that SK Telecom will post 2.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

A number of hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in SK Telecom by 116.2% during the first quarter. Parallel Advisors LLC now owns 27,483 shares of the Wireless communications provider’s stock valued at $805,000 after acquiring an additional 14,770 shares during the period. NewEdge Advisors LLC increased its stake in SK Telecom by 7,152.5% during the first quarter. NewEdge Advisors LLC now owns 20,017 shares of the Wireless communications provider’s stock valued at $586,000 after acquiring an additional 19,741 shares during the period. Amundi bought a new position in SK Telecom during the first quarter valued at about $360,000. EverSource Wealth Advisors LLC raised its holdings in SK Telecom by 71.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 11,540 shares of the Wireless communications provider’s stock valued at $338,000 after acquiring an additional 4,790 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in SK Telecom by 69.7% in the 1st quarter. Royal Bank of Canada now owns 4,853 shares of the Wireless communications provider’s stock valued at $142,000 after acquiring an additional 1,994 shares in the last quarter.

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.