SK Telecom (NYSE:SKM) Raised to Hold at HSBC

SK Telecom (NYSE:SKM) was upgraded by analysts at HSBC from a “reduce” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports.

Several other research firms have also recently weighed in on SKM. Wall Street Zen raised shares of SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Daiwa Securities Group cut shares of SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Zacks Research cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Bank of America cut shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. Finally, Citigroup cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

SK Telecom Price Performance

Shares of SKM opened at $37.81 on Thursday. SK Telecom has a 1-year low of $19.66 and a 1-year high of $40.49. The company has a market cap of $14.51 billion, a price-to-earnings ratio of 63.01, a PEG ratio of 0.24 and a beta of 0.61. The company’s fifty day simple moving average is $32.63 and its 200 day simple moving average is $26.22. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

SK Telecom (NYSE:SKM) last announced its earnings results on Thursday, May 7th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. On average, research analysts forecast that SK Telecom will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SKM. Millennium Management LLC increased its stake in shares of SK Telecom by 202.4% in the fourth quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock valued at $12,448,000 after buying an additional 405,863 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of SK Telecom by 17.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock valued at $50,561,000 after buying an additional 374,428 shares during the period. JPMorgan Chase & Co. increased its position in SK Telecom by 80,378.7% during the 4th quarter. JPMorgan Chase & Co. now owns 328,353 shares of the Wireless communications provider’s stock valued at $6,741,000 after purchasing an additional 327,945 shares during the period. Calamos Advisors LLC acquired a new stake in SK Telecom during the 1st quarter valued at approximately $9,065,000. Finally, UBS Group AG increased its position in SK Telecom by 215.4% during the 4th quarter. UBS Group AG now owns 426,729 shares of the Wireless communications provider’s stock valued at $8,761,000 after purchasing an additional 291,418 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.