SK Telecom (NYSE:SKM) Shares Gap Down – Should You Sell?

SK Telecom Co., Ltd. (NYSE:SKM) shares gapped down before the market opened on Wednesday . The stock had previously closed at $41.21, but opened at $38.60. SK Telecom shares last traded at $38.8710, with a volume of 826,464 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Weiss Ratings cut SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Finally, Citigroup cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, SK Telecom currently has an average rating of “Reduce”.

SK Telecom Stock Down 6.8%

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00. The business has a fifty day moving average of $37.06 and a 200 day moving average of $29.26. The stock has a market capitalization of $14.75 billion, a price-to-earnings ratio of 64.04, a PEG ratio of 0.24 and a beta of 0.60.

SK Telecom (NYSE:SKM) last released its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%.The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.98 billion. As a group, equities analysts predict that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

Several large investors have recently bought and sold shares of the business. Kestra Advisory Services LLC purchased a new stake in SK Telecom during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp grew 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 worth $29,000 after purchasing an additional 648 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of SK Telecom during the fourth quarter worth about $30,000. Allworth Financial LP grew its holdings in shares of SK Telecom by 138.2% during 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. Finally, Wexford Capital LP purchased a new position in shares of SK Telecom during the third quarter worth about $39,000.

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.