SK Telecom Co., Ltd. (NYSE:SKM) Given Consensus Rating of “Reduce” by Brokerages

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have earned a consensus rating of “Reduce” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a strong buy recommendation on the company.

A number of analysts recently commented on the stock. Citigroup downgraded shares of SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Wall Street Zen raised SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Daiwa Securities Group downgraded SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Bank of America lowered SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 29th.

Hedge Funds Weigh In On SK Telecom

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its stake in SK Telecom by 8.2% in the 1st quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock worth $936,000 after acquiring an additional 3,316 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of SK Telecom during the 1st quarter worth $85,000. Millennium Management LLC boosted its holdings in shares of SK Telecom by 160.7% during the first quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock worth $4,823,000 after purchasing an additional 139,829 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of SK Telecom by 46.9% in the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock valued at $5,531,000 after purchasing an additional 83,030 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in SK Telecom by 315.8% in the second quarter. Hantz Financial Services Inc. now owns 2,216 shares of the Wireless communications provider’s stock valued at $52,000 after purchasing an additional 1,683 shares during the last quarter.

SK Telecom Price Performance

SK Telecom stock opened at $28.68 on Monday. The company has a market cap of $11.01 billion, a P/E ratio of 42.18, a price-to-earnings-growth ratio of 4.02 and a beta of 0.48. SK Telecom has a one year low of $19.66 and a one year high of $33.71. The business has a fifty day moving average of $26.39 and a two-hundred day moving average of $22.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.03.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. The company had revenue of $2.83 billion for the quarter. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%. As a group, analysts predict that SK Telecom will post 2.27 earnings per share for the current fiscal year.

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.