SK Telecom (NYSE:SKM) was downgraded by investment analysts at CLSA from an “outperform” rating to an “underperform” rating in a report issued on Wednesday, The Fly reports.
Several other research firms have also issued reports on SKM. Zacks Investment Research upgraded shares of SK Telecom from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday. Morgan Stanley restated an “equal weight” rating on shares of SK Telecom in a report on Thursday, January 11th. Finally, Citigroup upgraded shares of SK Telecom from a “neutral” rating to a “buy” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $32.00.
SK Telecom (NYSE SKM) traded down $0.04 during trading on Wednesday, reaching $28.37. 358,000 shares of the company’s stock traded hands, compared to its average volume of 471,220. The company has a current ratio of 0.94, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33. SK Telecom has a 52-week low of $20.97 and a 52-week high of $28.97. The company has a market cap of $18,055.83, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 1.06 and a beta of 0.42.
A number of institutional investors have recently added to or reduced their stakes in the business. Boston Common Asset Management LLC raised its holdings in SK Telecom by 4.6% during the 2nd quarter. Boston Common Asset Management LLC now owns 16,485 shares of the Wireless communications provider’s stock worth $423,000 after purchasing an additional 725 shares during the last quarter. Profund Advisors LLC grew its position in shares of SK Telecom by 7.8% during the 2nd quarter. Profund Advisors LLC now owns 16,352 shares of the Wireless communications provider’s stock worth $420,000 after buying an additional 1,185 shares during the period. Nationwide Fund Advisors grew its position in shares of SK Telecom by 2.9% during the 2nd quarter. Nationwide Fund Advisors now owns 50,124 shares of the Wireless communications provider’s stock worth $1,287,000 after buying an additional 1,420 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of SK Telecom by 1.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 108,377 shares of the Wireless communications provider’s stock worth $2,665,000 after buying an additional 1,991 shares during the period. Finally, Eqis Capital Management Inc. grew its position in shares of SK Telecom by 18.9% during the 3rd quarter. Eqis Capital Management Inc. now owns 17,426 shares of the Wireless communications provider’s stock worth $429,000 after buying an additional 2,776 shares during the period. Hedge funds and other institutional investors own 11.40% of the company’s stock.
About SK Telecom
SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.
