SK Telecom (NYSE:SKM) Stock Price Down 6.2% – Should You Sell?

SK Telecom Co., Ltd. (NYSE:SKM)’s stock price was down 6.2% during trading on Wednesday . The company traded as low as $36.51 and last traded at $36.2360. Approximately 1,348,694 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 1,838,905 shares. The stock had previously closed at $38.64.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SKM shares. Citigroup downgraded shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Bank of America cut shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 18th. Zacks Research raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings downgraded shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Finally, HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

SK Telecom Stock Performance

The stock’s 50-day moving average price is $35.14 and its 200 day moving average price is $28.06. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00. The firm has a market cap of $14.26 billion, a P/E ratio of 62.01, a price-to-earnings-growth ratio of 0.23 and a beta of 0.61.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. As a group, equities analysts predict that SK Telecom Co., Ltd. will post 2.76 EPS for the current year.

Institutional Trading of SK Telecom

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Groupama Asset Managment lifted its holdings in shares of SK Telecom by 1.7% in the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock worth $521,000 after acquiring an additional 418 shares during the last quarter. Rhumbline Advisers grew its position in shares of SK Telecom by 0.7% during the 3rd quarter. Rhumbline Advisers now owns 68,552 shares of the Wireless communications provider’s stock worth $1,481,000 after buying an additional 500 shares during the period. Vise Technologies Inc. grew its position in shares of SK Telecom by 1.9% during the 3rd quarter. Vise Technologies Inc. now owns 27,553 shares of the Wireless communications provider’s stock worth $595,000 after buying an additional 525 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of SK Telecom by 10.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,732 shares of the Wireless communications provider’s stock worth $134,000 after buying an additional 560 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of SK Telecom by 94.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,336 shares of the Wireless communications provider’s stock worth $29,000 after purchasing an additional 648 shares in the last quarter.

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.