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

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have received a consensus recommendation of “Reduce” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company.

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

Hedge Funds Weigh In On SK Telecom

A number of large investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its position in SK Telecom by 17.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after acquiring an additional 374,428 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in SK Telecom by 2.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock worth $48,679,000 after acquiring an additional 60,242 shares during the last quarter. Great Lakes Advisors LLC boosted its position in SK Telecom by 1.1% during the 4th quarter. Great Lakes Advisors LLC now owns 1,117,361 shares of the Wireless communications provider’s stock worth $22,939,000 after acquiring an additional 12,672 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in SK Telecom by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 923,579 shares of the Wireless communications provider’s stock worth $18,961,000 after acquiring an additional 12,848 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in SK Telecom by 9.6% during the 3rd quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock worth $19,158,000 after acquiring an additional 77,763 shares during the last quarter.

SK Telecom Price Performance

Shares of SKM opened at $38.33 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.03. The stock has a 50 day simple moving average of $37.60 and a 200 day simple moving average of $29.58. SK Telecom has a 52-week low of $19.66 and a 52-week high of $47.18. The firm has a market capitalization of $14.71 billion, a PE ratio of 63.89, a P/E/G ratio of 0.23 and a beta of 0.60.

SK Telecom (NYSE:SKM) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%.The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. Sell-side analysts predict that SK Telecom will post 2.76 EPS 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.