SK Telecom (NYSE:SKM) Shares Gap Down – What’s Next?

Shares of SK Telecom Co., Ltd. (NYSE:SKM) gapped down prior to trading on Thursday . The stock had previously closed at $31.50, but opened at $29.60. SK Telecom shares last traded at $29.71, with a volume of 1,010,780 shares trading hands.

Wall Street Analysts Forecast Growth

SKM has been the topic of a number of analyst reports. Zacks Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Bank of America downgraded shares of SK Telecom from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 18th. Citigroup lowered shares of SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded shares of SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Daiwa Securities Group cut SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

SK Telecom Price Performance

The business’s 50-day simple moving average is $26.04 and its two-hundred day simple moving average is $22.75. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 44.18, a price-to-earnings-growth ratio of 4.10 and a beta of 0.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. The firm had revenue of $2.83 billion for the quarter. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. Research analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SKM. West Family Investments Inc. acquired a new position in shares of SK Telecom during the second quarter worth $416,000. North of South Capital LLP acquired a new stake in SK Telecom in the third quarter valued at $1,133,000. Atria Investments Inc bought a new position in SK Telecom during the 2nd quarter worth $504,000. Quadrant Capital Group LLC lifted its holdings in SK Telecom by 1,406.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 108,303 shares of the Wireless communications provider’s stock worth $2,529,000 after buying an additional 101,112 shares during the period. Finally, Vise Technologies Inc. bought a new stake in shares of SK Telecom in the 2nd quarter valued at about $631,000.

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.