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

Zacks Research upgraded shares of SK Telecom (NYSE:SKM) from a strong sell rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

Several other analysts have also issued reports on SKM. HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Citigroup lowered shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Weiss Ratings upgraded shares of SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. Finally, Bank of America lowered shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

SK Telecom Stock Down 5.1%

SKM opened at $36.69 on Tuesday. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $40.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.03. The company has a fifty day moving average of $35.00 and a two-hundred day moving average of $27.94. The stock has a market capitalization of $14.08 billion, a price-to-earnings ratio of 61.14, a PEG ratio of 0.24 and a beta of 0.61.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.98 billion. On average, research analysts expect that SK Telecom will post 2.76 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

Institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new position in SK Telecom during the fourth quarter worth about $28,000. Jones Financial Companies Lllp boosted its position in 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 worth $29,000 after acquiring an additional 648 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in SK Telecom during the fourth quarter worth about $30,000. Allworth Financial LP boosted its position in SK Telecom by 138.2% during the third quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock worth $37,000 after acquiring an additional 987 shares during the last quarter. Finally, Wexford Capital LP acquired a new position in SK Telecom during the third quarter worth about $39,000.

About SK Telecom

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.