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

StockNews.com lowered shares of SK Telecom (NYSE:SKM) from a strong-buy rating to a buy rating in a research report released on Wednesday.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group downgraded shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. UBS Group initiated coverage on shares of SK Telecom in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, SK Telecom has a consensus rating of “Hold”.

SK Telecom Price Performance

Shares of NYSE SKM opened at $21.48 on Wednesday. SK Telecom has a twelve month low of $19.88 and a twelve month high of $24.58. The firm has a market cap of $8.46 billion, a P/E ratio of 8.77, a PEG ratio of 1.27 and a beta of 0.77. The company has a 50 day moving average of $21.61 and a 200 day moving average of $22.47. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48.

SK Telecom (NYSE:SKM) last announced its quarterly earnings data on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share for the quarter. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. As a group, research analysts expect that SK Telecom will post 2.27 EPS for the current fiscal year.

Institutional Trading of SK Telecom

Several hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC raised its position in shares of SK Telecom by 3.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 13,465 shares of the Wireless communications provider’s stock valued at $283,000 after buying an additional 472 shares in the last quarter. Vident Advisory LLC raised its position in shares of SK Telecom by 0.8% during the 4th quarter. Vident Advisory LLC now owns 73,815 shares of the Wireless communications provider’s stock valued at $1,553,000 after buying an additional 610 shares in the last quarter. Principal Securities Inc. raised its position in shares of SK Telecom by 147.7% during the 4th quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider’s stock valued at $25,000 after buying an additional 721 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of SK Telecom by 15.2% during the 4th quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider’s stock valued at $122,000 after buying an additional 764 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of SK Telecom by 34.4% during the 4th quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock valued at $64,000 after buying an additional 773 shares in the last quarter.

About SK Telecom

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.