SK Telecom (NYSE:SKM) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of SK Telecom (NYSE:SKM) from a buy rating to a strong-buy rating in a research note released on Friday.

Several other brokerages have also recently issued reports on SKM. Nomura upgraded SK Telecom from a reduce rating to a neutral rating in a research report on Wednesday, May 8th. Nomura Securities raised shares of SK Telecom from a strong sell rating to a hold rating in a research note on Wednesday, May 8th.

SK Telecom Trading Down 0.5 %

NYSE:SKM traded down $0.10 on Friday, hitting $21.21. 193,318 shares of the company’s stock were exchanged, compared to its average volume of 253,662. SK Telecom has a 52 week low of $18.52 and a 52 week high of $22.71. The firm has a 50-day moving average price of $21.08 and a 200-day moving average price of $21.33. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.61.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Monday, April 29th. The Wireless communications provider reported $0.34 EPS for the quarter. The business had revenue of $3.43 billion during the quarter. SK Telecom had a net margin of 6.22% and a return on equity of 8.62%. Equities research analysts anticipate that SK Telecom will post 2.13 EPS for the current fiscal year.

Institutional Trading of SK Telecom

Several large investors have recently bought and sold shares of SKM. Allspring Global Investments Holdings LLC lifted its holdings in SK Telecom by 3.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,159,884 shares of the Wireless communications provider’s stock valued at $25,007,000 after purchasing an additional 37,186 shares during the last quarter. LSV Asset Management raised its holdings in SK Telecom by 15.3% in the 4th quarter. LSV Asset Management now owns 415,831 shares of the Wireless communications provider’s stock valued at $8,899,000 after buying an additional 55,270 shares during the last quarter. Ramirez Asset Management Inc. acquired a new stake in SK Telecom in the third quarter worth $8,165,000. Envestnet Asset Management Inc. boosted its stake in shares of SK Telecom by 26.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 304,426 shares of the Wireless communications provider’s stock worth $6,533,000 after buying an additional 63,913 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of SK Telecom by 79.6% during the first quarter. Acadian Asset Management LLC now owns 281,508 shares of the Wireless communications provider’s stock worth $6,068,000 after acquiring an additional 124,739 shares in the last quarter.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.