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 “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Several other research firms also recently commented on SKM. Weiss Ratings raised SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. upgraded SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. Finally, Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

SK Telecom Trading Up 2.9%

Shares of NYSE SKM opened at $34.42 on Monday. SK Telecom has a 1 year low of $19.66 and a 1 year high of $47.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a 50-day moving average of $36.73 and a 200 day moving average of $35.81. The stock has a market cap of $13.21 billion, a P/E ratio of 27.54 and a beta of 0.72.

SK Telecom (NYSE:SKM) last announced its earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.22. SK Telecom had a net margin of 4.23% and a return on equity of 5.30%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.96 billion. As a group, sell-side analysts expect that SK Telecom will post 2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Calamos Advisors LLC purchased a new position in SK Telecom in the 1st quarter worth about $9,065,000. ABN Amro Investment Solutions lifted its stake in SK Telecom by 136.8% during the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock valued at $16,647,000 after acquiring an additional 328,300 shares during the period. Calamos Wealth Management LLC purchased a new stake in shares of SK Telecom during the 1st quarter valued at about $3,511,000. WINTON GROUP Ltd purchased a new stake in shares of SK Telecom during the 2nd quarter valued at about $965,000. Finally, Euro Pacific Asset Management LLC grew its stake in shares of SK Telecom by 80.6% in the first quarter. Euro Pacific Asset Management LLC now owns 223,557 shares of the Wireless communications provider’s stock worth $6,513,000 after acquiring an additional 99,741 shares during the period.

About SK Telecom

SK Telecom Co, Ltd. is a South Korean telecommunications company and a member of the SK Group. Headquartered in Seoul, the company provides mobile communications services, including voice, messaging, wireless data, 5G connectivity and related subscription services, primarily in South Korea.

Through its affiliates and business operations, SK Telecom also offers fixed-line broadband internet, internet protocol television and media services. Its enterprise portfolio includes cloud computing, data center services, information and communication technology solutions, artificial intelligence and Internet of Things services for businesses and public-sector customers.

The company traces its origins to Korea Mobile Telecommunications, established in 1984, and adopted the SK Telecom name in 1998 following its incorporation into the SK Group.