SK Telecom (NYSE:SKM) Stock Rating Lowered by Bank of America

SK Telecom (NYSE:SKM) was downgraded by research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday, Marketbeat reports.

SKM has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 29th. Daiwa Securities Group downgraded SK Telecom to a “hold” rating in a report 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. Finally, Wall Street Zen raised shares of SK Telecom from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

SK Telecom Stock Down 0.2%

SK Telecom stock opened at $31.80 on Wednesday. The business’s 50-day simple moving average is $24.10 and its two-hundred day simple moving average is $22.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.07. The company has a market cap of $12.20 billion, a PE ratio of 46.77, a PEG ratio of 4.38 and a beta of 0.50. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $33.71.

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

Institutional Investors Weigh In On SK Telecom

Several large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in SK Telecom in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp boosted its position in SK Telecom by 94.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after acquiring an additional 648 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of SK Telecom during the fourth quarter valued at $30,000. Allworth Financial LP increased 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 valued at $37,000 after purchasing an additional 987 shares during the period. Finally, HM Payson & Co. raised its stake in shares of SK Telecom by 38.9% during the third quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock valued at $39,000 after purchasing an additional 510 shares in 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.