SK Telecom (NYSE:SKM) Rating Lowered to Hold at Wall Street Zen

SK Telecom (NYSE:SKM) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms also recently issued reports on SKM. JPMorgan Chase & Co. raised shares of SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Finally, Weiss Ratings upgraded SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, SK Telecom currently has a consensus rating of “Reduce”.

SK Telecom Trading Down 0.2%

Shares of NYSE SKM opened at $31.18 on Friday. The firm’s 50 day moving average price is $34.52 and its 200-day moving average price is $33.95. The company has a market cap of $11.96 billion, a PE ratio of 11.25 and a beta of 0.78. SK Telecom has a 52-week low of $19.66 and a 52-week high of $47.18. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.22 and a current ratio of 1.25.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Wednesday, November 4th. The Wireless communications provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. SK Telecom had a net margin of 7.49% and a return on equity of 9.26%. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. On average, equities research analysts expect that SK Telecom will post 3.90 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

A number of large investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new position in shares of SK Telecom in the 3rd quarter worth approximately $42,000. Matthews International Capital Management LLC grew its stake in SK Telecom by 33.5% during the 1st quarter. Matthews International Capital Management LLC now owns 3,326 shares of the Wireless communications provider’s stock worth $97,000 after purchasing an additional 835 shares in the last quarter. Royal Bank of Canada grew its position in shares of SK Telecom by 69.7% during the first quarter. Royal Bank of Canada now owns 4,853 shares of the Wireless communications provider’s stock worth $142,000 after buying an additional 1,994 shares in the last quarter. Allworth Financial LP increased its position in shares of SK Telecom by 11.3% in the 2nd quarter. Allworth Financial LP now owns 4,990 shares of the Wireless communications provider’s stock valued at $160,000 after purchasing an additional 507 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of SK Telecom by 26.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,202 shares of the Wireless communications provider’s stock valued at $232,000 after purchasing an additional 1,526 shares in the last quarter.

About SK Telecom

SK Telecom is a South Korean telecommunications company that provides mobile voice and data services, including 5G connectivity, to consumers and businesses. Its offerings also include internet of things and enterprise connectivity solutions.

Through its subsidiary SK Broadband, the company provides fixed-line broadband and IPTV services, including its B tv platform. SK Telecom is also developing artificial intelligence services and infrastructure, alongside data center and cloud-related offerings.

Headquartered in Seoul, SK Telecom traces its roots to Korea Mobile Telecommunications Services, established in 1984.