SK Telecom (NYSE:SKM) Hits New 12-Month Low – Here’s What Happened

SK Telecom Co., Ltd. (NYSE:SKM) shares hit a new 52-week low on Tuesday . The stock traded as low as $19.73 and last traded at $19.7150, with a volume of 427268 shares trading hands. The stock had previously closed at $20.34.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 8th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

SK Telecom Stock Down 3.1%

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.01. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 2.33 and a beta of 0.51. The firm’s 50-day moving average is $20.53 and its 200 day moving average is $21.55.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. SK Telecom had a net margin of 3.60% and a return on equity of 5.29%. Sell-side analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Large investors have recently modified their holdings of the company. Great Lakes Advisors LLC grew its holdings in shares of SK Telecom by 543.6% during the 1st quarter. Great Lakes Advisors LLC now owns 593,312 shares of the Wireless communications provider’s stock worth $12,614,000 after purchasing an additional 501,125 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in SK Telecom by 16.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,193,435 shares of the Wireless communications provider’s stock worth $51,217,000 after buying an additional 303,646 shares during the period. JPMorgan Chase & Co. grew its stake in SK Telecom by 236.1% during the second quarter. JPMorgan Chase & Co. now owns 383,123 shares of the Wireless communications provider’s stock worth $8,946,000 after buying an additional 269,135 shares during the period. Citadel Advisors LLC acquired a new stake in shares of SK Telecom in the third quarter worth $4,319,000. Finally, Creative Planning raised its stake in shares of SK Telecom by 108.0% in the 3rd quarter. Creative Planning now owns 347,750 shares of the Wireless communications provider’s stock valued at $7,511,000 after acquiring an additional 180,581 shares during the period.

SK Telecom Company Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.