SK Telecom (NYSE:SKM) Hits New 12-Month High – Still a Buy?

SK Telecom Co., Ltd. (NYSE:SKM) shares hit a new 52-week high on Tuesday . The company traded as high as $28.74 and last traded at $28.9180, with a volume of 35963 shares trading hands. The stock had previously closed at $27.91.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SKM. Daiwa Capital Markets downgraded SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of SK Telecom in a research report on Monday, December 29th. Zacks Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Finally, Wall Street Zen downgraded shares of SK Telecom from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

SK Telecom Trading Up 3.9%

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 firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 43.27, a price-to-earnings-growth ratio of 6.26 and a beta of 0.50. The business’s 50 day moving average price is $21.42 and its 200-day moving average price is $21.47.

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%. Equities analysts forecast that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its holdings in SK Telecom by 94.2% during the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after buying an additional 648 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of SK Telecom by 1,780.9% during 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 in the last quarter. Allworth Financial LP grew its holdings in shares of SK Telecom by 138.2% in the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock worth $37,000 after acquiring an additional 987 shares during the period. HM Payson & Co. increased its stake 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 purchasing an additional 510 shares in the last quarter. Finally, Wexford Capital LP purchased a new stake in SK Telecom during the third quarter worth $39,000.

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.