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

Shares of SK Telecom Co., Ltd. (NYSE:SKM) have been assigned an average rating of “Reduce” from the seven research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company.

Several equities analysts have recently weighed in on the stock. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Weiss Ratings raised shares of SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Bank of America lowered shares of SK Telecom from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 18th. Zacks Research cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Finally, Citigroup cut shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th.

Institutional Investors Weigh In On SK Telecom

Institutional investors have recently added to or reduced their stakes in the stock. Boston Common Asset Management LLC grew its stake in SK Telecom by 83.1% in the 4th quarter. Boston Common Asset Management LLC now owns 362,424 shares of the Wireless communications provider’s stock valued at $7,441,000 after acquiring an additional 164,472 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in SK Telecom in the 3rd quarter valued at $1,415,000. Caprock Group LLC acquired a new stake in SK Telecom in the 3rd quarter valued at $1,804,000. Teachers Retirement System of The State of Kentucky boosted its stake in SK Telecom by 18.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 221,300 shares of the Wireless communications provider’s stock worth $4,543,000 after purchasing an additional 34,100 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of SK Telecom by 17.9% during 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.

SK Telecom Price Performance

NYSE:SKM opened at $37.75 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00. The firm has a market cap of $14.49 billion, a price-to-earnings ratio of 62.91, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. The company has a 50 day moving average price of $34.44 and a 200-day moving average price of $27.52. SK Telecom has a 1-year low of $19.66 and a 1-year high of $40.49.

SK Telecom (NYSE:SKM) last posted its earnings results 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 firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.84%. Equities research analysts forecast 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.