StockNews.com Downgrades SK Telecom (NYSE:SKM) to Buy

SK Telecom (NYSE:SKM) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other analysts have also commented on the stock. Nomura raised shares of SK Telecom from a “reduce” rating to a “neutral” rating in a report on Wednesday, May 8th. Nomura Securities raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 8th.

SK Telecom Stock Performance

NYSE:SKM opened at $20.80 on Tuesday. SK Telecom has a 1 year low of $18.52 and a 1 year high of $22.71. The firm has a 50 day moving average of $20.91 and a 200-day moving average of $21.18. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.60.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Wednesday, May 8th. The Wireless communications provider reported $0.68 earnings per share for the quarter. SK Telecom had a net margin of 6.53% and a return on equity of 8.97%. The firm had revenue of $3.36 billion during the quarter. Equities research analysts expect that SK Telecom will post 2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Institutional investors and hedge funds have recently modified their holdings of the company. Scotia Capital Inc. grew its stake in SK Telecom by 7.2% in the 3rd quarter. Scotia Capital Inc. now owns 31,290 shares of the Wireless communications provider’s stock valued at $672,000 after buying an additional 2,105 shares during the last quarter. Natixis Advisors L.P. grew its position in shares of SK Telecom by 9.9% during the 3rd quarter. Natixis Advisors L.P. now owns 42,815 shares of the Wireless communications provider’s stock worth $919,000 after purchasing an additional 3,864 shares in the last quarter. DGS Capital Management LLC grew its position in shares of SK Telecom by 12.8% during the 4th quarter. DGS Capital Management LLC now owns 95,339 shares of the Wireless communications provider’s stock worth $2,040,000 after purchasing an additional 10,784 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of SK Telecom during the 4th quarter worth approximately $29,000. Finally, Beck Bode LLC acquired a new position in shares of SK Telecom during the 4th quarter worth approximately $351,000.

SK Telecom Company Profile

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.