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

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have received an average rating of “Reduce” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company.

SKM has been the subject of a number of recent research reports. Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Weiss Ratings cut shares of SK Telecom from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. Finally, HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th.

SK Telecom Stock Performance

Shares of SKM opened at $32.17 on Thursday. The stock has a market capitalization of $12.35 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 0.19 and a beta of 0.64. The business’s fifty day moving average price is $34.92 and its 200 day moving average price is $32.87. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15. SK Telecom has a 12-month low of $19.66 and a 12-month high of $47.18.

SK Telecom (NYSE:SKM) last released its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. Equities research analysts forecast that SK Telecom will post 2.76 EPS for the current year.

Institutional Investors Weigh In On SK Telecom

Several large investors have recently added to or reduced their stakes in the stock. Groupama Asset Managment boosted its stake in shares of SK Telecom by 1.7% during the 4th quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock worth $521,000 after acquiring an additional 418 shares in the last quarter. Vise Technologies Inc. raised its position in shares of SK Telecom by 1.9% during 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 period. 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 valued at $134,000 after purchasing an additional 560 shares during the last quarter. PDS Planning Inc lifted its holdings in shares of SK Telecom by 5.6% during the fourth quarter. PDS Planning Inc now owns 14,397 shares of the Wireless communications provider’s stock valued at $296,000 after purchasing an additional 767 shares during the last quarter. Finally, Matthews International Capital Management LLC boosted its position in shares of SK Telecom by 50.4% in the 4th quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock valued at $51,000 after purchasing an additional 835 shares during the period.

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.