SK Telecom (NYSE:SKM) Upgraded to “Buy” at Wall Street Zen

SK Telecom (NYSE:SKM) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Other equities research analysts have also issued research reports about the company. Weiss Ratings lowered SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. 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, the stock presently has a consensus rating of “Reduce”.

SK Telecom Stock Performance

NYSE SKM opened at $31.79 on Friday. The firm’s fifty day moving average price is $37.25 and its two-hundred day moving average price is $31.02. The stock has a market cap of $12.20 billion, a PE ratio of 52.98, a PEG ratio of 0.20 and a beta of 0.63. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $47.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%.The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.98 billion. On average, equities analysts expect that SK Telecom will post 2.76 EPS for the current fiscal year.

Institutional Trading of SK Telecom

Several institutional investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. grew its stake 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 worth $50,561,000 after purchasing an additional 374,428 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in SK Telecom by 2.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock worth $48,679,000 after purchasing an additional 60,242 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in SK Telecom by 1.1% during the 4th quarter. Great Lakes Advisors LLC now owns 1,117,361 shares of the Wireless communications provider’s stock worth $22,939,000 after buying an additional 12,672 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of SK Telecom by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 923,579 shares of the Wireless communications provider’s stock valued at $18,961,000 after buying an additional 12,848 shares during the last quarter. Finally, Bank of America Corp DE increased its stake 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 buying an additional 77,763 shares during the period.

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.