SK Telecom (SKM) Upgraded by Nomura to “Buy”
SK Telecom (NYSE:SKM) was upgraded by research analysts at Nomura from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday.
Separately, HSBC raised shares of SK Telecom from a “hold” rating to a “buy” rating in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $30.00.
Shares of SKM stock traded down $0.33 during trading on Friday, reaching $27.77. The company’s stock had a trading volume of 939,074 shares, compared to its average volume of 505,663. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The firm has a market cap of $17.62 billion, a PE ratio of 7.59, a P/E/G ratio of 0.41 and a beta of 0.52. SK Telecom has a one year low of $22.66 and a one year high of $28.97.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of SK Telecom by 7.8% in the third quarter. Vanguard Group Inc. now owns 1,923,040 shares of the Wireless communications provider’s stock valued at $53,614,000 after acquiring an additional 138,537 shares in the last quarter. Csenge Advisory Group acquired a new position in shares of SK Telecom in the third quarter valued at about $116,000. Nordea Investment Management AB acquired a new position in shares of SK Telecom in the third quarter valued at about $82,046,000. Banco de Sabadell S.A grew its stake in shares of SK Telecom by 656.9% in the third quarter. Banco de Sabadell S.A now owns 43,376 shares of the Wireless communications provider’s stock valued at $1,193,000 after acquiring an additional 37,645 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of SK Telecom by 4.2% in the third quarter. Macquarie Group Ltd. now owns 9,637,496 shares of the Wireless communications provider’s stock valued at $268,693,000 after acquiring an additional 387,490 shares in the last quarter. 10.78% of the stock is currently owned by institutional investors and hedge funds.
About SK Telecom
SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates in four segments: Cellular Services, Fixed-Line Telecommunication Services, E-Commerce Services, and Other Businesses. The Cellular Services segment offers wireless voice transmission and data transmission services; cellular global roaming services; interconnection services to connect its networks to fixed-line and other wireless networks; Internet of Things solutions; and platform services, as well as sells wireless devices, including smartphones and basic phones, tablets and other Internet access devices, and wearable devices.
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