StockNews.com Downgrades SK Telecom (NYSE:SKM) to Buy

SK Telecom (NYSE:SKM) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

SK Telecom Stock Up 0.2 %

SKM traded up $0.03 on Friday, reaching $21.39. 165,819 shares of the company traded hands, compared to its average volume of 217,208. SK Telecom has a 52-week low of $19.88 and a 52-week high of $24.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.87 and a beta of 0.80. The stock’s 50 day moving average price is $22.00 and its 200-day moving average price is $22.51.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Wednesday, November 6th. The Wireless communications provider reported $0.51 earnings per share for the quarter. The business had revenue of $3.35 billion for the quarter. SK Telecom had a net margin of 6.31% and a return on equity of 9.03%. On average, sell-side analysts expect that SK Telecom will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in SK Telecom by 27.8% in the third quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock worth $53,000 after acquiring an additional 488 shares in the last quarter. Matthews International Capital Management LLC boosted its holdings in SK Telecom by 102.5% in the fourth quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider’s stock worth $54,000 after purchasing an additional 1,291 shares in the last quarter. Assetmark Inc. increased its position in SK Telecom by 57.6% during the third quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock worth $70,000 after buying an additional 1,078 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in SK Telecom by 24.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the Wireless communications provider’s stock valued at $75,000 after buying an additional 652 shares in the last quarter. Finally, Ariadne Wealth Management LP acquired a new stake in shares of SK Telecom in the second quarter worth about $127,000.

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.