SK Telecom (NYSE:SKM) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

SK Telecom Co., Ltd. (NYSE:SKM)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.77 and traded as high as $32.74. SK Telecom shares last traded at $32.3090, with a volume of 1,743,080 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of SK Telecom from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Weiss Ratings cut SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Finally, HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce”.

SK Telecom Stock Performance

The firm has a market cap of $12.40 billion, a P/E ratio of 53.85, a P/E/G ratio of 0.20 and a beta of 0.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. The company’s 50 day moving average is $37.76 and its 200 day moving average is $30.77.

SK Telecom (NYSE:SKM) last posted its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts predict that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

A number of hedge funds and other institutional investors have recently bought and sold shares of SKM. Royal Bank of Canada raised its position in SK Telecom by 8.2% in the first quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock valued at $936,000 after purchasing an additional 3,316 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of SK Telecom during the first quarter valued at about $85,000. Millennium Management LLC grew its holdings in shares of SK Telecom by 160.7% during the first quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock worth $4,823,000 after purchasing an additional 139,829 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of SK Telecom by 46.9% during the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock worth $5,531,000 after purchasing an additional 83,030 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of SK Telecom by 10.8% in the second quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after buying an additional 560 shares during the period.

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.