SK Telecom (NYSE:SKM) Sets New 12-Month Low – Here’s Why

SK Telecom Co., Ltd. (NYSE:SKM)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $19.66 and last traded at $19.7450, with a volume of 19344 shares. The stock had previously closed at $19.80.

Wall Street Analyst Weigh In

A number of analysts have commented on SKM shares. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of SK Telecom in a report on Monday. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

SK Telecom Trading Up 1.8%

The business has a 50 day simple moving average of $20.35 and a 200-day simple moving average of $21.50. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 2.26 and a beta of 0.51.

SK Telecom (NYSE:SKM) last released its earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 5.30% and a net margin of 3.60%. On average, equities analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its holdings in SK Telecom by 94.2% in the 3rd 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 in the last quarter. Allworth Financial LP raised its holdings in shares of SK Telecom by 138.2% during the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 987 shares during the period. Wexford Capital LP acquired a new position in SK Telecom during the 3rd quarter worth approximately $39,000. HM Payson & Co. lifted its position in SK Telecom by 38.9% during the 3rd quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock worth $39,000 after acquiring an additional 510 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in SK Telecom by 1,780.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,674 shares of the Wireless communications provider’s stock worth $39,000 after acquiring an additional 1,585 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.