SK Telecom (NYSE:SKM) Reaches New 52-Week High – Still a Buy?

Shares of SK Telecom Co., Ltd. (NYSE:SKM) hit a new 52-week high during trading on Thursday . The company traded as high as $23.95 and last traded at $23.3950, with a volume of 1256 shares traded. The stock had previously closed at $23.35.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Daiwa Capital Markets cut shares of SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of SK Telecom in a report on Monday, December 29th. Wall Street Zen lowered SK Telecom from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Finally, Zacks Research upgraded 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

SK Telecom Stock Performance

The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 0.74 and a beta of 0.49. The firm’s fifty day moving average price is $20.41 and its 200 day moving average price is $21.25.

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

Hedge Funds Weigh In On SK Telecom

Hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in SK Telecom by 94.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after acquiring an additional 648 shares during the period. Allworth Financial LP increased its stake in 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 purchasing an additional 987 shares during the period. Farther Finance Advisors LLC lifted its position in shares of SK Telecom by 1,780.9% during the second quarter. Farther Finance Advisors LLC now owns 1,674 shares of the Wireless communications provider’s stock worth $39,000 after purchasing an additional 1,585 shares in the last quarter. HM Payson & Co. boosted its stake in shares of SK Telecom by 38.9% in the third quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock valued at $39,000 after purchasing an additional 510 shares during the period. Finally, Wexford Capital LP purchased a new position in shares of SK Telecom in the third quarter valued at approximately $39,000.

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.