SK Telecom (NYSE:SKM) Hits New 52-Week High – Here’s Why

Shares of SK Telecom Co., Ltd. (NYSE:SKM) hit a new 52-week high on Wednesday . The company traded as high as $33.80 and last traded at $34.3810, with a volume of 53238 shares. The stock had previously closed at $32.14.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SKM shares. Bank of America lowered SK Telecom from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 18th. Citigroup lowered SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Daiwa Securities Group lowered SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Weiss Ratings raised SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Finally, Wall Street Zen raised SK Telecom from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

SK Telecom Price Performance

The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market cap of $13.23 billion, a price-to-earnings ratio of 50.79, a price-to-earnings-growth ratio of 4.14 and a beta of 0.46. The company has a fifty day simple moving average of $29.82 and a two-hundred day simple moving average of $24.03.

SK Telecom (NYSE:SKM) last posted its earnings results on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share for the quarter, beating the consensus estimate of $0.10 by $10.57. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.02 billion. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%. On average, equities research analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.

Institutional Trading of SK Telecom

Several large investors have recently bought and sold shares of the company. Hsbc Holdings PLC grew its holdings in SK Telecom by 70.8% in the fourth quarter. Hsbc Holdings PLC now owns 39,997 shares of the Wireless communications provider’s stock valued at $821,000 after purchasing an additional 16,574 shares during the last quarter. Corient Private Wealth LLC grew its holdings in SK Telecom by 21.5% in the fourth quarter. Corient Private Wealth LLC now owns 51,730 shares of the Wireless communications provider’s stock valued at $1,062,000 after purchasing an additional 9,147 shares during the last quarter. Groupama Asset Managment grew its holdings in SK Telecom by 1.7% in the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock valued at $521,000 after purchasing an additional 418 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in SK Telecom in the fourth quarter valued at $1,509,000. Finally, Millennium Management LLC grew its holdings in SK Telecom by 202.4% in the fourth quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock valued at $12,448,000 after purchasing an additional 405,863 shares during 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.