SK Telecom (SKM) Rating Increased to Buy at Citigroup

SK Telecom (NYSE:SKM) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a report issued on Friday, MarketBeat Ratings reports.

Several other equities research analysts have also recently weighed in on SKM. BidaskClub cut SK Telecom from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Zacks Investment Research lowered SK Telecom from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. SK Telecom presently has a consensus rating of “Buy” and a consensus price target of $29.00.

Shares of SK Telecom (SKM) traded down $0.06 during mid-day trading on Friday, hitting $27.38. The company’s stock had a trading volume of 556,565 shares, compared to its average volume of 555,637. SK Telecom has a twelve month low of $20.44 and a twelve month high of $28.13. The stock has a market cap of $19,670.00, a PE ratio of 9.53, a price-to-earnings-growth ratio of 1.09 and a beta of 0.41. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 0.35.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in shares of SK Telecom by 87.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 332,588 shares of the Wireless communications provider’s stock worth $8,538,000 after acquiring an additional 155,076 shares in the last quarter. FMR LLC raised its position in shares of SK Telecom by 3.7% in the 2nd quarter. FMR LLC now owns 1,764,724 shares of the Wireless communications provider’s stock worth $45,300,000 after acquiring an additional 63,700 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of SK Telecom by 8.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,524,444 shares of the Wireless communications provider’s stock worth $90,471,000 after acquiring an additional 271,434 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of SK Telecom by 18.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 171,903 shares of the Wireless communications provider’s stock worth $4,413,000 after acquiring an additional 26,728 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of SK Telecom in the 2nd quarter worth $323,000. 11.41% of the stock is owned by hedge funds and other institutional investors.

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About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.

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