SK Telecom Co., Ltd. (NYSE:SKM) Given Consensus Recommendation of “Reduce” by Brokerages

SK Telecom Co., Ltd. (NYSE:SKM) has earned an average rating of “Reduce” from the seven analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company.

A number of research firms have recently weighed in on SKM. Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings downgraded SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th.

Hedge Funds Weigh In On SK Telecom

A number of hedge funds have recently added to or reduced their stakes in SKM. Millennium Management LLC raised its position in SK Telecom by 202.4% during the fourth quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock valued at $12,448,000 after acquiring an additional 405,863 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in SK Telecom by 17.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after acquiring an additional 374,428 shares in the last quarter. ABN Amro Investment Solutions grew its position in SK Telecom by 136.8% in the first quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock worth $16,647,000 after acquiring an additional 328,300 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of SK Telecom by 80,378.7% during the 4th quarter. JPMorgan Chase & Co. now owns 328,353 shares of the Wireless communications provider’s stock worth $6,741,000 after purchasing an additional 327,945 shares during the last quarter. Finally, Calamos Advisors LLC bought a new position in shares of SK Telecom during the 1st quarter valued at $9,065,000.

SK Telecom Stock Down 0.0%

SK Telecom stock opened at $31.79 on Friday. The firm has a market cap of $12.20 billion, a PE ratio of 52.98, a P/E/G ratio of 0.20 and a beta of 0.63. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. The firm’s 50 day moving average price is $37.25 and its two-hundred day moving average price is $31.02. SK Telecom has a twelve month low of $19.66 and a twelve month high of $47.18.

SK Telecom (NYSE:SKM) last issued its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) 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 2.78%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. On average, research analysts predict that SK Telecom will post 2.76 EPS for the current fiscal year.

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.