SK Telecom (NYSE:SKM) Issues Quarterly Earnings Results

SK Telecom (NYSE:SKM) released its quarterly earnings data on Monday. The Wireless communications provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04, Zacks reports. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%.

SK Telecom Stock Down 1.7%

NYSE:SKM traded down $0.36 during trading hours on Monday, reaching $20.43. The company had a trading volume of 175,230 shares, compared to its average volume of 279,231. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 8.34, a P/E/G ratio of 1.27 and a beta of 0.63. The business’s 50-day simple moving average is $21.59 and its two-hundred day simple moving average is $21.89. SK Telecom has a twelve month low of $20.28 and a twelve month high of $24.58.

Analysts Set New Price Targets

A number of research firms have issued reports on SKM. Citigroup downgraded shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Tuesday, May 6th. The Goldman Sachs Group downgraded shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. UBS Group initiated coverage on shares of SK Telecom in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, StockNews.com downgraded shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a report on Thursday.

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.