SK Telecom (NYSE:SKM) Upgraded to Overweight at JPMorgan Chase & Co.

SK Telecom (NYSE:SKM) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Thursday,Benzinga reports.

Several other research analysts have also weighed in on SKM. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings cut shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Finally, HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

SK Telecom Stock Performance

NYSE:SKM opened at $32.20 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $47.18. The company has a 50 day simple moving average of $36.39 and a two-hundred day simple moving average of $31.78. The company has a market capitalization of $12.35 billion, a PE ratio of 53.66, a P/E/G ratio of 0.19 and a beta of 0.63.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. Research analysts anticipate that SK Telecom will post 2.76 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new stake in shares of SK Telecom in the 4th quarter worth about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in SK Telecom during the 4th quarter worth approximately $30,000. Allworth Financial LP raised its stake in shares of SK Telecom by 138.2% in 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 last quarter. Wexford Capital LP purchased a new stake in shares of SK Telecom in the third quarter worth approximately $39,000. Finally, Matthews International Capital Management LLC lifted its holdings in shares of SK Telecom by 50.4% in the fourth quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after purchasing an additional 835 shares in the last quarter.

About SK Telecom

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.