SK Telecom (NYSE:SKM) Cut to “Sell” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of SK Telecom (NYSE:SKM – Free Report) from a hold rating to a sell rating in a research note released on Saturday.

SKM has been the subject of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of SK Telecom in a research report on Monday, December 29th. Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Daiwa Capital Markets cut SK Telecom to a “hold” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Check Out Our Latest Research Report on SKM

SK Telecom Stock Up 0.4%

SKM opened at $21.00 on Friday. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $23.80. The firm has a market capitalization of $8.27 billion, a P/E ratio of 31.34, a PEG ratio of 0.67 and a beta of 0.49. The company’s 50-day moving average is $20.29 and its 200 day moving average is $21.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.03.

SK Telecom (NYSE:SKM – Get Free Report) last posted its earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) EPS for the quarter. SK Telecom had a return on equity of 5.30% and a net margin of 3.60%. Research analysts expect that SK Telecom will post 2.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its holdings in shares of SK Telecom by 2.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,253,677 shares of the Wireless communications provider’s stock valued at $48,679,000 after buying an additional 60,242 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in SK Telecom by 1.4% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,104,689 shares of the Wireless communications provider’s stock worth $23,861,000 after buying an additional 15,036 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in SK Telecom by 1.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 923,579 shares of the Wireless communications provider’s stock valued at $18,961,000 after purchasing an additional 12,848 shares during the period. Bank of America Corp DE lifted its holdings in shares of SK Telecom by 9.6% during the 3rd quarter. Bank of America Corp DE now owns 886,930 shares of the Wireless communications provider’s stock valued at $19,158,000 after buying an additional 77,763 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of SK Telecom by 0.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 618,787 shares of the Wireless communications provider’s stock worth $13,366,000 after buying an additional 2,894 shares during the last quarter.

SK Telecom Company Profile

(Get Free Report)

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.

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