SK Telecom (NYSE:SKM) Share Price Breaks Above 200-Day Moving Average – Time to Sell?

SK Telecom Co., Ltd. (NYSE:SKM)’s share price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $35.64 and traded as high as $36.72. SK Telecom shares last traded at $36.4440, with a volume of 698,111 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SKM. Zacks Research cut SK Telecom from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, August 27th. JPMorgan Chase & Co. upgraded shares of SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings raised shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, SK Telecom currently has a consensus rating of “Reduce”.

SK Telecom Price Performance

The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $13.05 billion, a PE ratio of 27.20 and a beta of 0.72. The stock’s 50-day moving average is $36.62 and its two-hundred day moving average is $35.69.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.22. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.96 billion. SK Telecom had a return on equity of 5.30% and a net margin of 4.23%. On average, equities analysts predict that SK Telecom Co., Ltd. will post 2.21 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SKM. Matthews International Capital Management LLC boosted its holdings in shares of SK Telecom by 33.5% in the 1st quarter. Matthews International Capital Management LLC now owns 3,326 shares of the Wireless communications provider’s stock valued at $97,000 after buying an additional 835 shares in the last quarter. Royal Bank of Canada boosted its position in shares of SK Telecom by 69.7% in the 1st quarter. Royal Bank of Canada now owns 4,853 shares of the Wireless communications provider’s stock worth $142,000 after purchasing an additional 1,994 shares in the last quarter. Allworth Financial LP boosted its position in shares of SK Telecom by 11.3% in the 2nd quarter. Allworth Financial LP now owns 4,990 shares of the Wireless communications provider’s stock worth $160,000 after purchasing an additional 507 shares in the last quarter. Walkner Condon Financial Advisors LLC purchased a new position in SK Telecom during the 1st quarter worth $202,000. Finally, GAMMA Investing LLC grew its stake in SK Telecom by 26.9% during the 2nd 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 last quarter.

About SK Telecom

SK Telecom Co, Ltd. is a South Korean telecommunications company and a member of the SK Group. Headquartered in Seoul, the company provides mobile communications services, including voice, messaging, wireless data, 5G connectivity and related subscription services, primarily in South Korea.

Through its affiliates and business operations, SK Telecom also offers fixed-line broadband internet, internet protocol television and media services. Its enterprise portfolio includes cloud computing, data center services, information and communication technology solutions, artificial intelligence and Internet of Things services for businesses and public-sector customers.

The company traces its origins to Korea Mobile Telecommunications, established in 1984, and adopted the SK Telecom name in 1998 following its incorporation into the SK Group.