SK Telecom (NYSE:SKM) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of SK Telecom (NYSE:SKM) from a buy rating to a strong-buy rating in a report published on Saturday morning.

SK Telecom Stock Performance

NYSE SKM opened at $21.48 on Friday. The firm has a market capitalization of $8.46 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 1.91 and a beta of 0.80. The firm’s fifty day moving average price is $21.89 and its two-hundred day moving average price is $22.55. SK Telecom has a 1 year low of $19.88 and a 1 year high of $24.58. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Wednesday, November 6th. The Wireless communications provider reported $0.51 EPS for the quarter. The business had revenue of $3.35 billion for the quarter. SK Telecom had a net margin of 6.31% and a return on equity of 9.03%. As a group, research analysts anticipate that SK Telecom will post 2.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Natixis Advisors LLC increased its stake in SK Telecom by 36.9% during the 3rd quarter. Natixis Advisors LLC now owns 97,156 shares of the Wireless communications provider’s stock valued at $2,309,000 after purchasing an additional 26,206 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in SK Telecom by 64.2% during the second quarter. Dimensional Fund Advisors LP now owns 62,780 shares of the Wireless communications provider’s stock valued at $1,314,000 after purchasing an additional 24,538 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of SK Telecom by 4.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,009 shares of the Wireless communications provider’s stock worth $55,979,000 after buying an additional 98,323 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of SK Telecom by 100.8% in the third quarter. QRG Capital Management Inc. now owns 48,004 shares of the Wireless communications provider’s stock worth $1,141,000 after buying an additional 24,103 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of SK Telecom in the second quarter worth about $469,000.

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.