SK Telecom (NYSE:SKM) Cut to Neutral at JPMorgan Chase & Co.

SK Telecom (NYSE:SKM) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Monday,Finviz reports.

A number of other analysts have also issued reports on SKM. The Goldman Sachs Group lowered SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. StockNews.com lowered SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Citigroup lowered SK Telecom from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. Finally, UBS Group started coverage on SK Telecom in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SK Telecom currently has a consensus rating of “Hold”.

SK Telecom Stock Performance

NYSE SKM traded down $0.62 during trading hours on Monday, hitting $20.18. The company had a trading volume of 314,567 shares, compared to its average volume of 279,815. SK Telecom has a fifty-two week low of $20.15 and a fifty-two week high of $24.58. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $21.59 and a 200-day simple moving average of $21.89. The firm has a market cap of $7.95 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 1.27 and a beta of 0.63.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. Equities analysts predict that SK Telecom will post 2.27 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Securities Inc. grew its holdings in shares of SK Telecom by 147.7% in the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider’s stock valued at $25,000 after acquiring an additional 721 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SK Telecom in the first quarter worth $37,000. Parallel Advisors LLC boosted its holdings in shares of SK Telecom by 55.0% in the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider’s stock worth $53,000 after acquiring an additional 884 shares during the period. Matthews International Capital Management LLC boosted its stake in SK Telecom by 102.5% during the fourth quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider’s stock valued at $54,000 after buying an additional 1,291 shares during the period. Finally, GAMMA Investing LLC boosted its stake in SK Telecom by 34.4% during the fourth quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock valued at $64,000 after buying an additional 773 shares during the period.

SK Telecom Company Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.