SK Telecom (NYSE:SKM) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of SK Telecom (NYSE:SKM) from a neutral rating to an overweight rating in a research note published on Thursday,Benzinga reports.

Several other research analysts also recently commented on SKM. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings cut SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Finally, HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

SK Telecom Trading Down 3.2%

Shares of SKM stock opened at $30.73 on Thursday. The stock has a market capitalization of $11.79 billion, a price-to-earnings ratio of 51.22, a PEG ratio of 0.19 and a beta of 0.63. The company’s fifty day simple moving average is $36.16 and its two-hundred day simple moving average is $31.85. SK Telecom has a 1 year low of $19.66 and a 1 year high of $47.18. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. As a group, analysts anticipate that SK Telecom will post 2.76 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

A number of institutional investors and hedge funds have recently made changes to their positions in SKM. Kestra Advisory Services LLC purchased a new position in SK Telecom during the fourth quarter worth about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of SK Telecom in the 4th quarter valued at about $30,000. Allworth Financial LP raised its holdings in shares of SK Telecom by 138.2% in the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock valued at $37,000 after acquiring an additional 987 shares in the last quarter. Wexford Capital LP bought a new stake in shares of SK Telecom during the 3rd quarter valued at about $39,000. Finally, Matthews International Capital Management LLC boosted its position in shares of SK Telecom by 50.4% during the 4th quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after acquiring an additional 835 shares during the last quarter.

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.