SK Telecom (NYSE:SKM) Stock Rating Upgraded by JPMorgan Chase & Co.

SK Telecom (NYSE:SKM) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Thursday,Benzinga reports.

A number of other equities research analysts also recently weighed in on the company. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Finally, Weiss Ratings lowered SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

SK Telecom Stock Performance

SKM stock opened at $30.73 on Thursday. The company has a 50-day simple moving average of $36.16 and a 200 day simple moving average of $31.85. The company has a market capitalization of $11.79 billion, a P/E ratio of 51.22, a PEG ratio of 0.19 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. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $47.18.

SK Telecom (NYSE:SKM) last released its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. Sell-side analysts predict that SK Telecom will post 2.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

A number of hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its holdings 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 valued at $12,448,000 after purchasing an additional 405,863 shares during the period. Robeco Institutional Asset Management B.V. grew its position in SK Telecom by 17.9% during 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 in the last quarter. ABN Amro Investment Solutions increased its stake in SK Telecom by 136.8% in the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock valued at $16,647,000 after buying an additional 328,300 shares during the period. JPMorgan Chase & Co. increased its stake in SK Telecom by 80,378.7% in the 4th quarter. JPMorgan Chase & Co. now owns 328,353 shares of the Wireless communications provider’s stock valued at $6,741,000 after buying an additional 327,945 shares during the period. Finally, Calamos Advisors LLC purchased a new stake in SK Telecom in the 1st quarter worth approximately $9,065,000.

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.