SK Telecom Co., Ltd. (SKM) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of SK Telecom Co., Ltd. (NYSE:SKM) from a hold rating to a buy rating in a research report released on Wednesday, November 8th. They currently have $29.00 price target on the Wireless communications provider’s stock.

According to Zacks, “SK Telecom Co. is the world’s first commercial CDMA digital cellular service. As of September 30, 1997, they have provided the highest quality service for more than 4 million cellular customers which includes 2.3 million digital cellular customers, and 7.1 million paging customers. “

A number of other analysts have also weighed in on the stock. BidaskClub lowered shares of SK Telecom from a buy rating to a hold rating in a research note on Saturday, August 12th. Goldman Sachs Group Inc raised shares of SK Telecom from a neutral rating to a buy rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $29.00.

Shares of SK Telecom (SKM) opened at $26.75 on Wednesday. The stock has a market cap of $19,500.00, a price-to-earnings ratio of 9.57, a PEG ratio of 1.10 and a beta of 0.41. SK Telecom has a one year low of $20.44 and a one year high of $28.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.91 and a current ratio of 0.95.

Several institutional investors and hedge funds have recently bought and sold shares of SKM. Macquarie Group Ltd. boosted its position in SK Telecom by 12.6% in the third quarter. Macquarie Group Ltd. now owns 8,733,747 shares of the Wireless communications provider’s stock valued at $214,761,000 after buying an additional 975,732 shares during the last quarter. JPMorgan Chase & Co. boosted its position in SK Telecom by 8.3% in the second quarter. JPMorgan Chase & Co. now owns 3,524,444 shares of the Wireless communications provider’s stock valued at $90,471,000 after buying an additional 271,434 shares during the last quarter. Oldfield Partners LLP boosted its position in SK Telecom by 6.6% in the third quarter. Oldfield Partners LLP now owns 2,735,674 shares of the Wireless communications provider’s stock valued at $67,270,000 after buying an additional 169,500 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in SK Telecom by 121.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,329,928 shares of the Wireless communications provider’s stock valued at $59,809,000 after buying an additional 1,275,825 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in SK Telecom by 0.7% in the second quarter. Janus Henderson Group PLC now owns 1,934,540 shares of the Wireless communications provider’s stock valued at $49,689,000 after buying an additional 12,625 shares during the last quarter. Hedge funds and other institutional investors own 11.86% of the company’s stock.

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SK Telecom Company Profile

SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.

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