SK Telecom (NYSE:SKM) Upgraded at JPMorgan Chase & Co.

SK Telecom (NYSE:SKM) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Thursday,Benzinga reports.

Several other brokerages have also issued reports on SKM. Zacks Research raised SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Weiss Ratings lowered shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

SK Telecom Price Performance

Shares of NYSE SKM opened at $32.20 on Thursday. SK Telecom has a twelve month low of $19.66 and a twelve month high of $47.18. The stock’s 50 day moving average price is $36.39 and its 200-day moving average price is $31.78. The company has a market capitalization of $12.35 billion, a PE ratio of 53.66, a PEG ratio of 0.19 and a beta of 0.63. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. On average, equities analysts anticipate that SK Telecom will post 2.76 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of SK Telecom by 8.2% during the first quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock worth $936,000 after acquiring an additional 3,316 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of SK Telecom during the 1st quarter valued at $85,000. Millennium Management LLC boosted its stake in SK Telecom by 160.7% in the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock worth $4,823,000 after purchasing an additional 139,829 shares during the period. Goldman Sachs Group Inc. boosted its stake in SK Telecom by 46.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock worth $5,531,000 after purchasing an additional 83,030 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in SK Telecom by 10.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock valued at $134,000 after buying an additional 560 shares in the last quarter.

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.