SK Telecom (NYSE:SKM) Rating Lowered to “Neutral” at Citigroup

Citigroup lowered shares of SK Telecom (NYSE:SKM) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat reports.

SKM has been the topic of a number of other research reports. The Goldman Sachs Group lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. StockNews.com upgraded SK Telecom from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th. Finally, UBS Group initiated coverage on SK Telecom in a report on Wednesday, February 19th. They set a “buy” rating for the company.

SK Telecom Stock Performance

Shares of NYSE SKM opened at $21.08 on Tuesday. SK Telecom has a 12 month low of $20.28 and a 12 month high of $24.58. The company has a 50-day simple moving average of $21.60 and a 200-day simple moving average of $21.92. The company has a market cap of $8.30 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 1.27 and a beta of 0.63. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88.

SK Telecom (NYSE:SKM) last released its earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. On average, equities analysts anticipate that SK Telecom will post 2.27 earnings per share for the current year.

Institutional Trading of SK Telecom

Several large investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. boosted its position 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 worth $25,000 after buying an additional 721 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SK Telecom during the first quarter valued at approximately $37,000. Parallel Advisors LLC lifted its position in shares of SK Telecom by 55.0% during the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider’s stock worth $53,000 after purchasing an additional 884 shares in the last quarter. Matthews International Capital Management LLC grew its holdings in SK Telecom by 102.5% during the 4th quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider’s stock valued at $54,000 after purchasing an additional 1,291 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in SK Telecom by 34.4% during the 4th quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock worth $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.