Cibc World Market Inc. Increases Holdings in SK Telecom Co., Ltd. $SKM

Cibc World Market Inc. lifted its position in SK Telecom Co., Ltd. (NYSE:SKM) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 526,529 shares of the Wireless communications provider’s stock after purchasing an additional 14,350 shares during the period. Cibc World Market Inc. owned 0.13% of SK Telecom worth $10,810,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of SK Telecom by 17.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock valued at $50,561,000 after purchasing an additional 374,428 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of SK Telecom by 2.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock valued at $48,679,000 after purchasing an additional 60,242 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of SK Telecom by 1.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 923,579 shares of the Wireless communications provider’s stock valued at $18,961,000 after purchasing an additional 12,848 shares during the period. Bank of America Corp DE boosted its holdings in shares of SK Telecom by 9.6% in the third quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock valued at $19,158,000 after purchasing an additional 77,763 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of SK Telecom by 0.5% in the third quarter. BNP Paribas Financial Markets now owns 618,787 shares of the Wireless communications provider’s stock valued at $13,366,000 after purchasing an additional 2,894 shares during the period.

Wall Street Analyst Weigh In

SKM has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Citigroup downgraded shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

SK Telecom Stock Performance

Shares of SKM stock opened at $37.44 on Friday. The business’s fifty day simple moving average is $36.63 and its 200-day simple moving average is $28.91. The company has a market cap of $14.37 billion, a PE ratio of 62.40, a PEG ratio of 0.23 and a beta of 0.60. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. SK Telecom Co., Ltd. has a 12-month low of $19.66 and a 12-month high of $47.18.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%. Analysts expect that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current fiscal year.

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.