SK Telecom Co., Ltd. (NYSE:SKM) Receives Average Rating of “Reduce” from Brokerages

SK Telecom Co., Ltd. (NYSE:SKM) has been given an average recommendation of “Reduce” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company.

A number of analysts recently issued reports on SKM shares. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings lowered shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th.

Hedge Funds Weigh In On SK Telecom

A number of large investors have recently added to or reduced their stakes in SKM. Gradient Investments LLC raised its stake in shares of SK Telecom by 1.1% in the 2nd quarter. Gradient Investments LLC now owns 190,819 shares of the Wireless communications provider’s stock valued at $6,137,000 after purchasing an additional 2,038 shares during the period. Foster Group Inc. acquired a new position in shares of SK Telecom during the second quarter worth about $234,000. GAMMA Investing LLC boosted its position in shares of SK Telecom by 26.9% during the second quarter. GAMMA Investing LLC now owns 7,202 shares of the Wireless communications provider’s stock worth $232,000 after buying an additional 1,526 shares during the period. Wealth High Governance Capital Ltda bought a new position in shares of SK Telecom during the first quarter worth about $7,740,000. Finally, Wealth High Governance Asset Management Ltda. bought a new position in shares of SK Telecom during the first quarter worth about $6,577,000.

SK Telecom Stock Performance

SKM stock opened at $32.77 on Friday. The business’s 50-day moving average price is $36.80 and its two-hundred day moving average price is $31.44. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57. The firm has a market cap of $12.57 billion, a PE ratio of 54.61, a P/E/G ratio of 0.20 and a beta of 0.63. SK Telecom has a 1-year low of $19.66 and a 1-year high of $47.18.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. As a group, research analysts forecast that SK Telecom will post 2.76 earnings per share for the current 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.