SK Telecom (NYSE:SKM) Hits New 52-Week Low – What’s Next?

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 $19.73 and last traded at $19.7150, with a volume of 427268 shares changing hands. The stock had previously closed at $20.34.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 8th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

SK Telecom Price Performance

The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.62. The stock has a market cap of $7.77 billion, a PE ratio of 29.41, a P/E/G ratio of 2.33 and a beta of 0.51. The company’s 50 day moving average is $20.53 and its 200-day moving average is $21.55.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. SK Telecom had a net margin of 3.60% and a return on equity of 5.29%. As a group, sell-side analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

Large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its stake in SK Telecom by 2.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock valued at $48,679,000 after acquiring an additional 60,242 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of SK Telecom by 1.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,104,689 shares of the Wireless communications provider’s stock worth $23,861,000 after purchasing an additional 15,036 shares during the last quarter. Bank of America Corp DE boosted its position in SK Telecom by 9.6% during the 3rd quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock valued at $19,158,000 after purchasing an additional 77,763 shares during the period. BNP Paribas Financial Markets grew its stake in SK Telecom by 0.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 618,787 shares of the Wireless communications provider’s stock worth $13,366,000 after buying an additional 2,894 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in SK Telecom by 3.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 444,496 shares of the Wireless communications provider’s stock worth $10,379,000 after buying an additional 15,773 shares during the last quarter.

About SK Telecom

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.