SK Telecom (NYSE:SKM) Rating Increased to Neutral at Nomura

SK Telecom (NYSE:SKM) was upgraded by equities research analysts at Nomura from a “reduce” rating to a “neutral” rating in a report released on Wednesday, MarketBeat.com reports.

Separately, StockNews.com downgraded shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd.

SK Telecom Stock Performance

NYSE:SKM traded up $0.02 during trading hours on Wednesday, hitting $20.75. 192,856 shares of the company were exchanged, compared to its average volume of 301,052. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.94 and a quick ratio of 0.92. SK Telecom has a 52-week low of $18.52 and a 52-week high of $22.71. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 4.49 and a beta of 0.76. The company’s 50 day moving average price is $21.26 and its 200-day moving average price is $21.27.

SK Telecom (NYSE:SKM) last released its earnings results on Monday, April 29th. The Wireless communications provider reported $0.34 earnings per share (EPS) for the quarter. The firm had revenue of $3.43 billion for the quarter. SK Telecom had a return on equity of 8.62% and a net margin of 6.22%. As a group, research analysts forecast that SK Telecom will post 2.05 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

Several hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of SK Telecom by 3,900.0% in the 4th quarter. CWM LLC now owns 1,160 shares of the Wireless communications provider’s stock valued at $25,000 after buying an additional 1,131 shares during the period. Assetmark Inc. acquired a new position in SK Telecom in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its position in SK Telecom by 1,558.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the Wireless communications provider’s stock worth $28,000 after purchasing an additional 1,231 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of SK Telecom during the 4th quarter worth approximately $29,000. Finally, Matthews International Capital Management LLC purchased a new position in shares of SK Telecom during the 3rd quarter valued at approximately $30,000.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.