SK Telecom (NYSE:SKM) Upgraded to Hold at Zacks Research

SK Telecom (NYSE:SKM) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also commented on SKM. Weiss Ratings upgraded SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Citigroup lowered SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Bank of America lowered SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

SK Telecom Price Performance

Shares of SKM opened at $36.69 on Tuesday. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 61.14, a PEG ratio of 0.24 and a beta of 0.61. The stock has a 50 day moving average of $35.00 and a 200-day moving average of $27.94. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. SK Telecom has a 52 week low of $19.66 and a 52 week high of $40.49.

SK Telecom (NYSE:SKM) last issued its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 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 analyst estimates of $2.98 billion. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%. As a group, analysts forecast that SK Telecom will post 2.76 EPS for the current year.

Institutional Trading of SK Telecom

Several hedge funds have recently added to or reduced their stakes in SKM. Kestra Advisory Services LLC bought a new stake in shares of SK Telecom in the 4th quarter worth $28,000. Jones Financial Companies Lllp raised its stake in shares of SK Telecom by 94.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after buying an additional 648 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of SK Telecom in the 4th quarter worth $30,000. Allworth Financial LP raised its stake in shares of SK Telecom by 138.2% in the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 987 shares in the last quarter. Finally, Wexford Capital LP bought a new stake in shares of SK Telecom in the 3rd quarter worth $39,000.

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.