SK Telecom (NYSE:SKM) Rating Increased to Strong-Buy at Zacks Research

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

A number of other equities analysts have also commented on SKM. Daiwa Capital Markets lowered shares of SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SK Telecom in a research report on Monday, December 29th. Finally, Wall Street Zen lowered SK Telecom from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

SK Telecom Price Performance

SK Telecom stock opened at $27.38 on Wednesday. The stock has a 50-day moving average price of $21.10 and a two-hundred day moving average price of $21.41. SK Telecom has a 12 month low of $19.66 and a 12 month high of $27.83. The company has a market capitalization of $10.72 billion, a PE ratio of 40.86, a P/E/G ratio of 6.05 and a beta of 0.49. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share (EPS) for the quarter. SK Telecom had a net margin of 3.60% and a return on equity of 5.30%. Analysts expect that SK Telecom will post 2.27 EPS for the current year.

Institutional Trading of SK Telecom

Several large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new position in shares of SK Telecom in the second quarter valued at $313,000. West Family Investments Inc. acquired a new stake in shares of SK Telecom in the 2nd quarter worth about $416,000. Farther Finance Advisors LLC lifted its position in SK Telecom by 1,780.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,674 shares of the Wireless communications provider’s stock valued at $39,000 after acquiring an additional 1,585 shares in the last quarter. Atria Investments Inc bought a new position in SK Telecom in the 2nd quarter valued at about $504,000. Finally, Quadrant Capital Group LLC boosted its stake in SK Telecom by 1,406.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 108,303 shares of the Wireless communications provider’s stock valued at $2,529,000 after purchasing an additional 101,112 shares during the last quarter.

About SK Telecom

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.