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

SK Telecom Co., Ltd. (NYSE:SKM) has been given a consensus rating of “Reduce” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have issued a hold rating on the company.

SKM has been the subject of several recent research reports. HSBC raised SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Weiss Ratings downgraded shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday.

Institutional Trading of SK Telecom

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

SK Telecom Stock Down 2.1%

SK Telecom stock opened at $31.01 on Friday. The firm has a 50 day moving average price of $36.98 and a 200-day moving average price of $31.26. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. SK Telecom has a twelve month low of $19.66 and a twelve month high of $47.18. The company has a market capitalization of $11.90 billion, a P/E ratio of 51.69, a P/E/G ratio of 0.19 and a beta of 0.63.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. As a group, equities analysts predict that SK Telecom will post 2.76 EPS for the current year.

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.