SK Telecom Co., Ltd. (NYSE:SKM) Receives Consensus Rating of “Reduce” from Brokerages

SK Telecom Co., Ltd. (NYSE:SKM) has been given an average rating of “Reduce” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company.

SKM has been the topic of a number of recent analyst reports. Wall Street Zen upgraded SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Citigroup cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Daiwa Securities Group downgraded shares of SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Bank of America lowered shares of SK Telecom from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SK Telecom in a research report on Monday, December 29th.

SK Telecom Price Performance

Shares of SK Telecom stock opened at $30.41 on Monday. The company’s fifty day simple moving average is $25.42 and its two-hundred day simple moving average is $22.59. SK Telecom has a 12-month low of $19.66 and a 12-month high of $33.71. The firm has a market cap of $11.67 billion, a PE ratio of 44.72, a price-to-earnings-growth ratio of 4.25 and a beta of 0.48. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

SK Telecom (NYSE:SKM) last posted its earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%.The firm had revenue of $2.83 billion for the quarter. As a group, equities analysts expect that SK Telecom will post 2.27 EPS for the current year.

Institutional Investors Weigh In On SK Telecom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Groupama Asset Managment increased its position in SK Telecom by 1.7% during the 4th quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock valued at $521,000 after buying an additional 418 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of SK Telecom by 21.5% in the fourth quarter. Corient Private Wealth LLC now owns 51,730 shares of the Wireless communications provider’s stock worth $1,061,000 after acquiring an additional 9,147 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of SK Telecom during the fourth quarter valued at $1,509,000. Millennium Management LLC raised its position in shares of SK Telecom by 202.4% in the 4th quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock worth $12,448,000 after purchasing an additional 405,863 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in SK Telecom in the 4th quarter worth about $293,000.

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.