SK Telecom (NYSE:SKM) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of SK Telecom (NYSE:SKM) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks reports.

Other research analysts have also recently issued reports about the stock. Weiss Ratings raised shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Wall Street Zen cut SK Telecom from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Finally, JPMorgan Chase & Co. upgraded SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

SK Telecom Trading Up 3.6%

Shares of NYSE:SKM opened at $34.29 on Tuesday. 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 1 year low of $19.66 and a 1 year high of $47.18. The company has a market cap of $13.16 billion, a P/E ratio of 12.38 and a beta of 0.78. The stock’s fifty day moving average price is $34.20 and its 200-day moving average price is $34.09.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Wednesday, November 4th. The Wireless communications provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.27 billion. SK Telecom had a return on equity of 9.26% and a net margin of 7.49%. Sell-side analysts expect that SK Telecom will post 3.90 earnings per share for the current year.

Institutional Trading of SK Telecom

Hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. grew its position in SK Telecom by 14.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,923,202 shares of the Wireless communications provider’s stock worth $102,049,000 after acquiring an additional 366,561 shares in the last quarter. Tidal Investments LLC purchased a new stake in SK Telecom during the second quarter valued at approximately $42,869,000. BlueCrest Capital Management Ltd purchased a new stake in SK Telecom during the second quarter valued at approximately $24,120,000. ABN Amro Investment Solutions raised its position in SK Telecom by 136.8% during the first quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock valued at $16,647,000 after purchasing an additional 328,300 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of SK Telecom by 1.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 512,970 shares of the Wireless communications provider’s stock valued at $18,257,000 after purchasing an additional 5,855 shares during the last quarter.

About SK Telecom

SK Telecom is a South Korean telecommunications company that provides mobile voice and data services, including 5G connectivity, to consumers and businesses. Its offerings also include internet of things and enterprise connectivity solutions. Through its subsidiary SK Broadband, the company provides fixed-line broadband and IPTV services, including its B tv platform. SK Telecom is also developing artificial intelligence services and infrastructure, alongside data center and cloud-related offerings.