SK Telecom (NYSE:SKM) Sees Large Volume Increase Following Analyst Upgrade

SK Telecom Co., Ltd. (NYSE:SKM) shares saw an uptick in trading volume on Tuesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. 1,991,562 shares changed hands during trading, an increase of 9% from the previous session’s volume of 1,825,618 shares.The stock last traded at $38.59 and had previously closed at $37.76.

Other research analysts have also recently issued research reports about the company. HSBC upgraded SK Telecom from a “reduce” rating to a “hold” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Bank of America lowered SK Telecom from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 18th. Finally, Citigroup lowered SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Four investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, SK Telecom currently has an average rating of “Reduce”.

Institutional Investors Weigh In On SK Telecom

Several institutional investors have recently bought and sold shares of SKM. Boston Common Asset Management LLC boosted its position in SK Telecom by 83.1% in the fourth quarter. Boston Common Asset Management LLC now owns 362,424 shares of the Wireless communications provider’s stock worth $7,441,000 after purchasing an additional 164,472 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of SK Telecom during the 3rd quarter valued at $1,415,000. Caprock Group LLC purchased a new position in shares of SK Telecom during the 3rd quarter valued at $1,804,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of 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 valued at $4,543,000 after buying an additional 34,100 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of SK Telecom by 17.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock valued at $50,561,000 after buying an additional 374,428 shares during the last quarter.

SK Telecom Price Performance

The business has a 50-day moving average price of $35.00 and a 200 day moving average price of $27.94. The stock has a market cap of $14.14 billion, a PE ratio of 61.40, a PEG ratio of 0.24 and a beta of 0.61. 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 (NYSE:SKM) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.98 billion. SK Telecom had a return on equity of 2.84% and a net margin of 2.03%. As a group, research analysts forecast that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current fiscal year.

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.