SK Telecom (NYSE:SKM) Reaches New 52-Week High – Should You Buy?

SK Telecom Co., Ltd. (NYSE:SKM)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.71 and last traded at $33.40, with a volume of 2548896 shares changing hands. The stock had previously closed at $32.56.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Daiwa Securities Group downgraded shares of SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Zacks Research raised shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Wall Street Zen upgraded shares of SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of SK Telecom in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, SK Telecom has an average rating of “Hold”.

SK Telecom Price Performance

The stock has a market capitalization of $12.82 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 4.48 and a beta of 0.50. The business’s 50-day moving average price is $23.63 and its 200 day moving average price is $22.10. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.07.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share (EPS) for the quarter. The business had revenue of $2.83 billion for the quarter. SK Telecom had a net margin of 2.28% and a return on equity of 3.29%. Research analysts forecast that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

A number of hedge funds and other institutional investors have recently bought and sold shares of SKM. Kestra Advisory Services LLC purchased a new stake in shares of SK Telecom during the 4th quarter valued at $28,000. Jones Financial Companies Lllp increased its stake in SK Telecom by 94.2% in the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after acquiring an additional 648 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in SK Telecom during the fourth quarter valued at about $30,000. Allworth Financial LP lifted its stake in 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, HM Payson & Co. boosted its holdings in shares of SK Telecom by 38.9% in the 3rd quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock worth $39,000 after purchasing an additional 510 shares in the last quarter.

About SK Telecom

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.