SK Telecom Co., Ltd. (NYSE:SKM) Given Average Recommendation of “Reduce” by Analysts

SK Telecom Co., Ltd. (NYSE:SKM) has been given a consensus recommendation of “Reduce” by the seven research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company.

Several brokerages have commented on SKM. Weiss Ratings lowered shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Bank of America lowered shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Citigroup lowered shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th.

Institutional Trading of SK Telecom

Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its position in SK Telecom by 116.2% in the first quarter. Parallel Advisors LLC now owns 27,483 shares of the Wireless communications provider’s stock worth $805,000 after acquiring an additional 14,770 shares during the period. NewEdge Advisors LLC raised its position in SK Telecom by 7,152.5% in the first quarter. NewEdge Advisors LLC now owns 20,017 shares of the Wireless communications provider’s stock worth $586,000 after acquiring an additional 19,741 shares during the period. Amundi bought a new stake in SK Telecom in the first quarter worth about $360,000. EverSource Wealth Advisors LLC raised its position in SK Telecom by 71.0% in the first quarter. EverSource Wealth Advisors LLC now owns 11,540 shares of the Wireless communications provider’s stock worth $338,000 after acquiring an additional 4,790 shares during the period. Finally, Royal Bank of Canada raised its position in SK Telecom by 69.7% in the first quarter. Royal Bank of Canada now owns 4,853 shares of the Wireless communications provider’s stock worth $142,000 after acquiring an additional 1,994 shares during the period.

SK Telecom Stock Up 0.0%

SKM opened at $38.33 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00. The company’s 50-day moving average is $37.60 and its 200 day moving average is $29.65. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $47.18. The firm has a market capitalization of $14.71 billion, a P/E ratio of 63.89, a PEG ratio of 0.24 and a beta of 0.60.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.98 billion. Research analysts expect that SK Telecom will post 2.76 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.