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

SK Telecom Co., Ltd. (NYSE:SKM) has been assigned an average rating of “Reduce” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company.

Several research analysts have commented on SKM shares. Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday. HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings lowered shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th.

SK Telecom Stock Down 0.0%

Shares of SK Telecom stock opened at $31.79 on Friday. SK Telecom has a 12-month low of $19.66 and a 12-month high of $47.18. The firm has a market capitalization of $12.20 billion, a PE ratio of 52.98, a price-to-earnings-growth ratio of 0.20 and a beta of 0.63. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $37.25 and its 200-day moving average is $31.02.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. Equities analysts anticipate that SK Telecom will post 2.76 earnings per share for the current year.

Institutional Trading of SK Telecom

A number of hedge funds have recently modified their holdings of SKM. Kestra Advisory Services LLC purchased a new position in shares of SK Telecom during the fourth quarter valued at $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in SK Telecom in the 4th quarter worth about $30,000. Allworth Financial LP boosted its position in SK Telecom by 138.2% during the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock worth $37,000 after acquiring an additional 987 shares during the period. Wexford Capital LP acquired a new stake in SK Telecom during the 3rd quarter worth about $39,000. Finally, Matthews International Capital Management LLC grew its stake in SK Telecom by 50.4% during the 4th quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after acquiring an additional 835 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.