SK Telecom (NYSE:SKM) Stock Rating Upgraded by Zacks Research

SK Telecom (NYSE:SKM) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

SKM has been the subject of a number of other research reports. Daiwa Capital Markets downgraded SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of SK Telecom in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of SK Telecom from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

SK Telecom Stock Up 2.1%

Shares of SKM opened at $27.78 on Wednesday. SK Telecom has a 12-month low of $19.66 and a 12-month high of $27.83. The firm has a market capitalization of $10.72 billion, a P/E ratio of 40.86, a P/E/G ratio of 6.05 and a beta of 0.49. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $21.10 and a 200-day moving average price of $21.41.

SK Telecom (NYSE:SKM) last released its earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) EPS for the quarter. SK Telecom had a return on equity of 5.30% and a net margin of 3.60%. Equities research analysts expect that SK Telecom will post 2.27 earnings per share for the current year.

Institutional Trading of SK Telecom

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its position in shares of SK Telecom by 94.2% during the third quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock valued at $29,000 after acquiring an additional 648 shares during the last quarter. Allworth Financial LP increased its holdings in SK Telecom by 138.2% in the 3rd quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 987 shares during the last quarter. Farther Finance Advisors LLC raised its position in SK Telecom by 1,780.9% in the second quarter. Farther Finance Advisors LLC now owns 1,674 shares of the Wireless communications provider’s stock valued at $39,000 after purchasing an additional 1,585 shares during the period. HM Payson & Co. lifted its stake in SK Telecom by 38.9% during the third quarter. HM Payson & Co. now owns 1,822 shares of the Wireless communications provider’s stock worth $39,000 after purchasing an additional 510 shares in the last quarter. Finally, Wexford Capital LP purchased a new position in shares of SK Telecom during the third quarter worth $39,000.

SK Telecom Company Profile

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.