SK Telecom (NYSE:SKM) Shares Gap Down – Should You Sell?

Shares of SK Telecom Co., Ltd. (NYSE:SKM) gapped down before the market opened on Monday . The stock had previously closed at $36.21, but opened at $34.45. SK Telecom shares last traded at $34.40, with a volume of 1,753,295 shares changing hands.

Analyst Ratings Changes

SKM has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen cut shares of SK Telecom from a “buy” rating to a “hold” rating in a research note on Saturday. Four analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, SK Telecom has a consensus rating of “Reduce”.

SK Telecom Stock Performance

The company has a 50-day moving average of $38.07 and a 200 day moving average of $30.42. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $12.84 billion, a PE ratio of 55.77, a PEG ratio of 0.21 and a beta of 0.60.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. Equities research analysts predict that SK Telecom Co., Ltd. will post 2.76 EPS for the current year.

Hedge Funds Weigh In On SK Telecom

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its position 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 buying an additional 3,316 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in SK Telecom in the first quarter worth $85,000. Millennium Management LLC increased 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 acquiring an additional 139,829 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in 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 acquiring an additional 83,030 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in SK Telecom by 10.8% during the second quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after purchasing an additional 560 shares in the last quarter.

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.