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

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have been assigned an average recommendation of “Reduce” from the seven brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company.

SKM has been the topic of a number of research analyst reports. Zacks Research lowered SK Telecom from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, August 27th. Weiss Ratings upgraded SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th.

SK Telecom Stock Up 1.9%

SKM stock opened at $36.38 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.22. SK Telecom has a 52-week low of $19.66 and a 52-week high of $47.18. The company has a 50-day moving average of $35.89 and a two-hundred day moving average of $35.16. The stock has a market capitalization of $13.96 billion, a price-to-earnings ratio of 29.11 and a beta of 0.67.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Thursday, August 6th. The Wireless communications provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.22. SK Telecom had a return on equity of 5.30% and a net margin of 4.23%.The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.96 billion. As a group, equities research analysts anticipate that SK Telecom will post 2.21 EPS for the current year.

Institutional Trading of SK Telecom

A number of hedge funds have recently bought and sold shares of SKM. Matthews International Capital Management LLC lifted its position 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 worth $97,000 after acquiring an additional 835 shares during the period. Royal Bank of Canada lifted its position in SK Telecom by 69.7% in the first 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 during the period. Global Retirement Partners LLC boosted its stake in SK Telecom by 8,317.6% during the fourth quarter. Global Retirement Partners LLC now owns 7,660 shares of the Wireless communications provider’s stock worth $157,000 after buying an additional 7,569 shares in the last quarter. Allworth Financial LP boosted its stake in SK Telecom by 11.3% during the second quarter. Allworth Financial LP now owns 4,990 shares of the Wireless communications provider’s stock worth $160,000 after buying an additional 507 shares in the last quarter. Finally, Ariadne Wealth Management LP bought a new stake in SK Telecom in the 4th quarter valued at $175,000.

About SK Telecom

SK Telecom Co, Ltd. is a South Korean telecommunications company that provides mobile communications, broadband internet, and media services. Its offerings include wireless voice and data plans, 5G connectivity, fixed-line broadband, internet protocol television, and related digital services for consumers and businesses.

The company also develops enterprise technology solutions in areas such as artificial intelligence, cloud computing, data centers, cybersecurity, and connected devices.