SK Telecom (NYSE:SKM) Sets New 52-Week High – Here’s Why
by Amy Steele · The Cerbat GemSK Telecom Co., Ltd. (NYSE:SKM – Get Free Report)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $39.86 and last traded at $39.4320, with a volume of 686019 shares changing hands. The stock had previously closed at $37.84.
Analysts Set New Price Targets
Several research firms have commented on SKM. Zacks Research lowered shares of SK Telecom from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. Citigroup lowered shares of SK Telecom from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Wall Street Zen raised shares of SK Telecom from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Bank of America lowered shares of SK Telecom from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 18th. Finally, Daiwa Securities Group lowered shares of SK Telecom to a “hold” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, SK Telecom presently has an average rating of “Reduce”.
Get Our Latest Analysis on SKM
SK Telecom Stock Performance
The business’s 50-day simple moving average is $31.08 and its two-hundred day simple moving average is $24.86. The firm has a market cap of $14.76 billion, a price-to-earnings ratio of 56.54, a P/E/G ratio of 5.30 and a beta of 0.46. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.
SK Telecom (NYSE:SKM – Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $10.57. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.02 billion. SK Telecom had a net margin of 2.28% and a return on equity of 3.21%. As a group, sell-side analysts expect that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. A. D. Beadell Investment Counsel Inc. acquired a new position in shares of SK Telecom during the 1st quarter worth about $424,000. Hsbc Holdings PLC raised its position in shares of SK Telecom by 70.8% during the 4th quarter. Hsbc Holdings PLC now owns 39,997 shares of the Wireless communications provider’s stock worth $821,000 after purchasing an additional 16,574 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of SK Telecom by 21.5% during the 4th quarter. Corient Private Wealth LLC now owns 51,730 shares of the Wireless communications provider’s stock worth $1,062,000 after purchasing an additional 9,147 shares during the last quarter. Groupama Asset Managment raised its position in shares of SK Telecom by 1.7% during the 4th quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock worth $521,000 after purchasing an additional 418 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of SK Telecom during the 4th quarter worth about $1,509,000.
SK Telecom Company Profile
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.