SK Telecom Co., Ltd. (NYSE:SKM) Receives Average Rating of “Reduce” from Brokerages

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have been given a consensus recommendation of “Reduce” by the eight analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company.

A number of analysts recently issued reports on SKM shares. Wall Street Zen upgraded SK Telecom from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Citigroup cut SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Daiwa Securities Group downgraded shares of SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Weiss Ratings upgraded shares of SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. Finally, Bank of America cut shares of SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th.

SK Telecom Stock Up 2.2%

SK Telecom stock opened at $29.25 on Friday. The firm has a 50 day simple moving average of $29.27 and a 200 day simple moving average of $23.75. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. SK Telecom has a 1-year low of $19.66 and a 1-year high of $33.71. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 43.01, a P/E/G ratio of 4.01 and a beta of 0.48.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its position in shares of SK Telecom by 17.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after buying an additional 374,428 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in SK Telecom by 2.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock worth $48,679,000 after buying an additional 60,242 shares in the last quarter. Great Lakes Advisors LLC increased its stake in SK Telecom by 1.1% in the 4th quarter. Great Lakes Advisors LLC now owns 1,117,361 shares of the Wireless communications provider’s stock worth $22,939,000 after acquiring an additional 12,672 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in SK Telecom by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 923,579 shares of the Wireless communications provider’s stock worth $18,961,000 after acquiring an additional 12,848 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of SK Telecom by 9.6% in the 3rd quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock valued at $19,158,000 after acquiring an additional 77,763 shares in 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.