SK Telecom (NYSE:SKM) Sees Large Volume Increase – Time to Buy?

SK Telecom Co., Ltd. (NYSE:SKM) saw unusually-high trading volume on Monday . Approximately 1,795,252 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 2,168,439 shares.The stock last traded at $35.86 and had previously closed at $35.67.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings downgraded shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upgraded SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

SK Telecom Trading Down 0.9%

The company has a 50 day moving average of $35.63 and a 200 day moving average of $32.39. The firm has a market cap of $13.56 billion, a P/E ratio of 59.10, a PEG ratio of 0.22 and a beta of 0.63. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18.

SK Telecom (NYSE:SKM) last posted its earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Analysts predict that SK Telecom Co., Ltd. will post 2.77 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Several hedge funds have recently bought and sold shares of SKM. Gradient Investments LLC raised its stake in shares of SK Telecom by 1.1% in the 2nd quarter. Gradient Investments LLC now owns 190,819 shares of the Wireless communications provider’s stock valued at $6,137,000 after acquiring an additional 2,038 shares in the last quarter. Foster Group Inc. acquired a new position in SK Telecom during the second quarter valued at approximately $234,000. GAMMA Investing LLC raised its position in shares of SK Telecom by 26.9% in the second quarter. GAMMA Investing LLC now owns 7,202 shares of the Wireless communications provider’s stock valued at $232,000 after purchasing an additional 1,526 shares during the period. Wealth High Governance Capital Ltda acquired a new stake in shares of SK Telecom in the first quarter worth $7,740,000. Finally, Wealth High Governance Asset Management Ltda. bought a new stake in shares of SK Telecom during the 1st quarter worth $6,577,000.

SK Telecom Company Profile

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.