SK Telecom (NYSE:SKM) Stock Rating Upgraded by Zacks Research

SK Telecom (NYSE:SKM) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

SKM has been the subject of several other reports. Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Weiss Ratings upgraded shares of SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Bank of America cut shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Finally, Citigroup cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

SK Telecom Stock Down 5.1%

Shares of NYSE:SKM opened at $36.69 on Tuesday. The company has a fifty day moving average of $35.00 and a 200-day moving average of $27.94. The company has a market capitalization of $14.08 billion, a PE ratio of 61.14, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.03. SK Telecom has a 52-week low of $19.66 and a 52-week high of $40.49.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) 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 the consensus estimate of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. On average, equities analysts predict that SK Telecom will post 2.76 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Several institutional investors have recently made changes to their positions in the stock. Groupama Asset Managment raised its holdings in shares of SK Telecom by 1.7% during the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock valued at $521,000 after purchasing an additional 418 shares during the period. Rhumbline Advisers raised its holdings in shares of SK Telecom by 0.7% during the third quarter. Rhumbline Advisers now owns 68,552 shares of the Wireless communications provider’s stock valued at $1,481,000 after purchasing an additional 500 shares during the period. Vise Technologies Inc. raised its holdings in shares of SK Telecom by 1.9% during the third quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock valued at $595,000 after purchasing an additional 525 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of 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 during the period. Finally, Jones Financial Companies Lllp raised its holdings in shares of SK Telecom by 94.2% during the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after purchasing an additional 648 shares during the period.

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.