SK Telecom (NYSE:SKM) Share Price Passes Above 200-Day Moving Average – Here’s Why

SK Telecom Co., Ltd. (NYSE:SKM)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.47 and traded as high as $31.78. SK Telecom shares last traded at $31.5350, with a volume of 1,077,903 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on SKM. Citigroup cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Bank of America cut SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. Zacks Research upgraded SK Telecom from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded shares of SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of SK Telecom in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, SK Telecom currently has a consensus rating of “Reduce”.

SK Telecom Stock Up 0.3%

The company has a market capitalization of $12.10 billion, a PE ratio of 46.38, a P/E/G ratio of 4.40 and a beta of 0.50. The business has a 50-day moving average of $24.99 and a 200 day moving average of $22.47. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.03.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) EPS for the quarter. The business had revenue of $2.83 billion during the quarter. SK Telecom had a net margin of 2.28% and a return on equity of 3.29%. Equities research 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 have recently made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new position in shares of SK Telecom during the fourth quarter valued at $28,000. Jones Financial Companies Lllp lifted its stake in SK Telecom by 94.2% in the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after acquiring an additional 648 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in SK Telecom during the 4th quarter worth about $30,000. Allworth Financial LP grew its holdings in SK Telecom by 138.2% during 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 in the last quarter. Finally, HM Payson & Co. increased 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 valued at $39,000 after purchasing an additional 510 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.