SK Telecom (NYSE:SKM) Shares Up 6% – What’s Next?

SK Telecom Co., Ltd. (NYSE:SKM) shares were up 6% on Tuesday . The company traded as high as $30.98 and last traded at $30.62. Approximately 602,790 shares were traded during trading, a decline of 64% from the average daily volume of 1,676,865 shares. The stock had previously closed at $28.88.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SKM shares. Citigroup cut SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Daiwa Securities Group lowered shares of SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Weiss Ratings raised shares of SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Bank of America cut shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Finally, Zacks Research raised shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, SK Telecom currently has a consensus rating of “Hold”.

SK Telecom Price Performance

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 firm’s fifty day moving average is $28.26 and its 200 day moving average is $23.41. The company has a market capitalization of $11.91 billion, a P/E ratio of 45.63, a P/E/G ratio of 3.98 and a beta of 0.48.

SK Telecom (NYSE:SKM) last issued its earnings results on Thursday, February 5th. The Wireless communications provider reported $10.67 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $10.57. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. The business had revenue of $214.28 billion for the quarter, compared to analyst estimates of $3.02 billion. As a group, analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Groupama Asset Managment grew its holdings in SK Telecom by 1.7% in the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock worth $521,000 after purchasing an additional 418 shares during the last quarter. Rhumbline Advisers lifted its position in SK Telecom by 0.7% during the 3rd quarter. Rhumbline Advisers now owns 68,552 shares of the Wireless communications provider’s stock worth $1,481,000 after acquiring an additional 500 shares during the period. HM Payson & Co. grew its stake in SK Telecom by 38.9% during the 3rd quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock valued at $39,000 after purchasing an additional 510 shares during the last quarter. Vise Technologies Inc. raised its stake in shares of SK Telecom by 1.9% in the third quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock worth $595,000 after purchasing an additional 525 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of SK Telecom by 10.8% during the second quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock worth $134,000 after purchasing an additional 560 shares during the period.

SK Telecom Company Profile

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.