SK Telecom (NYSE:SKM) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of SK Telecom (NYSE:SKM) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on the stock. Daiwa Capital Markets lowered shares of SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Wall Street Zen cut shares of SK Telecom from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of SK Telecom in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SK Telecom presently has an average rating of “Hold”.

SK Telecom Price Performance

SK Telecom stock opened at $27.38 on Wednesday. The firm has a market cap of $10.72 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 6.05 and a beta of 0.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.03. The stock’s fifty day moving average price is $21.10 and its two-hundred day moving average price is $21.41. SK Telecom has a one year low of $19.66 and a one year high of $27.83.

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%. As a group, research analysts expect that SK Telecom will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in shares of SK Telecom by 0.7% during the third quarter. Rhumbline Advisers now owns 68,552 shares of the Wireless communications provider’s stock worth $1,481,000 after purchasing an additional 500 shares during the last quarter. HM Payson & Co. raised its holdings in SK Telecom by 38.9% in the 3rd quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock valued at $39,000 after buying an additional 510 shares during the last quarter. Vise Technologies Inc. grew its holdings in SK Telecom by 1.9% during the 3rd quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock worth $595,000 after acquiring an additional 525 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in SK Telecom by 10.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock worth $134,000 after acquiring an additional 560 shares during the last quarter. Finally, Euro Pacific Asset Management LLC increased its position in SK Telecom by 0.5% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 122,155 shares of the Wireless communications provider’s stock valued at $2,656,000 after acquiring an additional 618 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.