SK Telecom (NYSE:SKM) Downgraded to “Buy” Rating by StockNews.com

SK Telecom (NYSE:SKM) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other research firms have also commented on SKM. UBS Group started coverage on SK Telecom in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. The Goldman Sachs Group downgraded SK Telecom from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

SK Telecom Stock Performance

Shares of SKM stock traded up $0.14 on Wednesday, reaching $21.48. The stock had a trading volume of 273,343 shares, compared to its average volume of 245,427. The stock has a market cap of $8.46 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 1.27 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91. SK Telecom has a 1 year low of $19.88 and a 1 year high of $24.58. The company has a 50 day simple moving average of $21.61 and a 200 day simple moving average of $22.47.

SK Telecom (NYSE:SKM) last issued its quarterly earnings data on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share for the quarter. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. Equities research analysts expect that SK Telecom will post 2.27 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. grew its stake in SK Telecom by 24.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock valued at $61,827,000 after acquiring an additional 583,519 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in SK Telecom by 9.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,595,390 shares of the Wireless communications provider’s stock worth $33,567,000 after buying an additional 133,742 shares during the last quarter. Citigroup Inc. boosted its stake in SK Telecom by 0.3% during the third quarter. Citigroup Inc. now owns 811,850 shares of the Wireless communications provider’s stock worth $19,298,000 after buying an additional 2,737 shares during the period. BNP Paribas Financial Markets bought a new position in SK Telecom during the fourth quarter valued at $10,712,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of SK Telecom by 41.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 289,356 shares of the Wireless communications provider’s stock valued at $6,088,000 after acquiring an additional 85,278 shares during the period.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.