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

SK Telecom (NYSE:SKM) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

A number of other analysts have also commented on the stock. Weiss Ratings raised shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. upgraded SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen downgraded SK Telecom from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

SK Telecom Price Performance

Shares of SKM stock opened at $34.29 on Tuesday. SK Telecom has a 12-month low of $19.66 and a 12-month high of $47.18. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 12.38 and a beta of 0.78. The firm has a fifty day moving average of $34.20 and a 200-day moving average of $34.09.

SK Telecom (NYSE:SKM) last announced its earnings results on Wednesday, November 4th. The Wireless communications provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. SK Telecom had a net margin of 7.49% and a return on equity of 9.26%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.27 billion. On average, equities research analysts forecast that SK Telecom will post 3.90 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

Large investors have recently bought and sold shares of the company. Tidal Investments LLC acquired a new position in shares of SK Telecom in the second quarter worth approximately $42,869,000. BlueCrest Capital Management Ltd acquired a new stake in SK Telecom during the 2nd quarter valued at approximately $24,120,000. Nykredit A S acquired a new stake in SK Telecom during the 2nd quarter valued at approximately $14,475,000. Baird Financial Group Inc. bought a new position in SK Telecom during the 2nd quarter worth approximately $14,459,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in SK Telecom by 14.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,923,202 shares of the Wireless communications provider’s stock worth $102,049,000 after purchasing an additional 366,561 shares during the last quarter.

About SK Telecom

SK Telecom is a South Korean telecommunications company that provides mobile voice and data services, including 5G connectivity, to consumers and businesses. Its offerings also include internet of things and enterprise connectivity solutions. Through its subsidiary SK Broadband, the company provides fixed-line broadband and IPTV services, including its B tv platform. SK Telecom is also developing artificial intelligence services and infrastructure, alongside data center and cloud-related offerings.