SK Telecom (NYSE:SKM) Stock Rating Lowered by Wall Street Zen

SK Telecom (NYSE:SKM) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research firms also recently issued reports on SKM. 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. Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Four equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, SK Telecom has a consensus rating of “Reduce”.

SK Telecom Stock Down 0.1%

Shares of NYSE:SKM opened at $36.16 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.18. SK Telecom has a 1 year low of $19.66 and a 1 year high of $47.18. The stock has a market capitalization of $13.87 billion, a P/E ratio of 60.26, a PEG ratio of 0.22 and a beta of 0.60. The stock has a 50-day simple moving average of $38.15 and a 200-day simple moving average of $30.16.

SK Telecom (NYSE:SKM) last posted its quarterly 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. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.98 billion. Equities analysts forecast that SK Telecom will post 2.76 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new position in SK Telecom in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp raised its stake in shares of SK Telecom by 94.2% during the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after purchasing an additional 648 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of SK Telecom during the fourth quarter valued at approximately $30,000. Allworth Financial LP lifted its position 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 worth $37,000 after purchasing an additional 987 shares in the last quarter. Finally, Wexford Capital LP acquired a new position in shares of SK Telecom during the third quarter worth $39,000.

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.