SK Telecom (NYSE:SKM) Reaches New 1-Year High – Still a Buy?

SK Telecom Co., Ltd. (NYSE:SKM)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $27.55 and last traded at $27.4350, with a volume of 3855009 shares traded. The stock had previously closed at $24.80.

Analysts Set New Price Targets

SKM has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of SK Telecom from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Weiss Ratings reissued a “hold (c)” rating on shares of SK Telecom in a report on Monday, December 29th. Daiwa Capital Markets lowered shares of SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Finally, Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold”.

SK Telecom Price Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.03. The stock has a market cap of $10.72 billion, a P/E ratio of 40.86, a P/E/G ratio of 6.05 and a beta of 0.49. The company’s 50 day simple moving average is $21.10 and its 200 day simple moving average is $21.41.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. SK Telecom had a return on equity of 5.30% and a net margin of 3.60%. As a group, equities analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

Several large investors have recently modified their holdings of SKM. Royal Bank of Canada lifted its holdings in shares of SK Telecom by 8.2% during the 1st quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock valued at $936,000 after purchasing an additional 3,316 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in SK Telecom during the 1st quarter worth approximately $85,000. Millennium Management LLC lifted its stake in SK Telecom by 160.7% in the first quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock valued at $4,823,000 after buying an additional 139,829 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of SK Telecom by 46.9% in the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock valued at $5,531,000 after buying an additional 83,030 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of SK Telecom during the second quarter worth $313,000.

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.