SK Telecom (NYSE:SKM) Sets New 12-Month Low – Here’s Why

SK Telecom Co., Ltd. (NYSE:SKM)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $19.81 and last traded at $19.8850, with a volume of 141811 shares changing hands. The stock had previously closed at $20.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SK Telecom in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

SK Telecom Stock Down 1.0%

The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The business has a 50-day simple moving average of $21.17 and a 200-day simple moving average of $21.63. The company has a market cap of $7.83 billion, a PE ratio of 10.20, a P/E/G ratio of 15.17 and a beta of 0.56.

SK Telecom (NYSE:SKM) last announced its earnings results on Thursday, October 30th. The Wireless communications provider reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.56). SK Telecom had a return on equity of 8.92% and a net margin of 5.92%.The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.08 billion. Equities research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

Institutional Trading of SK Telecom

Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised its position in shares of SK Telecom by 0.7% during the 3rd quarter. Rhumbline Advisers now owns 68,552 shares of the Wireless communications provider’s stock worth $1,481,000 after purchasing an additional 500 shares during the last quarter. HM Payson & Co. increased its stake in SK Telecom by 38.9% during the 3rd quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock worth $39,000 after buying an additional 510 shares in the last quarter. Vise Technologies Inc. raised its holdings in shares of SK Telecom by 1.9% during the third quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock valued at $595,000 after acquiring an additional 525 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of SK Telecom by 10.8% in the second quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after acquiring an additional 560 shares in the last quarter. Finally, Euro Pacific Asset Management LLC boosted its stake in shares of SK Telecom by 0.5% in the third quarter. Euro Pacific Asset Management LLC now owns 122,155 shares of the Wireless communications provider’s stock worth $2,656,000 after acquiring an additional 618 shares during the last quarter.

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.