SK Telecom Co., Ltd. (NYSE:SKM) Given Average Rating of “Reduce” by Analysts

by · The Markets Daily

SK Telecom Co., Ltd. (NYSE:SKM – Get Free Report) has earned a consensus recommendation of “Reduce” from the seven analysts that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company.

SKM has been the subject of several research reports. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings raised SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. upgraded SK Telecom from a “neutral” rating to an “overweight” rating in a research note on Thursday, July 16th. Finally, Zacks Research lowered SK Telecom from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, August 27th.

View Our Latest Research Report on SK Telecom

SK Telecom Stock Up 0.7%

SK Telecom stock opened at $35.61 on Friday. The firm has a 50 day moving average price of $35.65 and a 200-day moving average price of $35.04. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. SK Telecom has a twelve month low of $19.66 and a twelve month high of $47.18. The company has a market capitalization of $13.66 billion, a P/E ratio of 28.49 and a beta of 0.67.

SK Telecom (NYSE:SKM – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.22. SK Telecom had a net margin of 4.23% and a return on equity of 5.59%. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.96 billion. As a group, equities analysts predict that SK Telecom will post 2.21 EPS for the current year.

Hedge Funds Weigh In On SK Telecom

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC purchased a new stake in shares of SK Telecom during the second quarter worth $42,869,000. Great Lakes Advisors LLC grew its position in shares of SK Telecom by 1.1% in the fourth quarter. Great Lakes Advisors LLC now owns 1,117,361 shares of the Wireless communications provider’s stock valued at $22,939,000 after purchasing an additional 12,672 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of SK Telecom in the second quarter valued at $24,120,000. ABN Amro Investment Solutions raised its stake in shares of SK Telecom by 136.8% during the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock valued at $16,647,000 after purchasing an additional 328,300 shares during the period. Finally, Cibc World Market Inc. raised its stake in shares of SK Telecom by 2.8% during the 4th quarter. Cibc World Market Inc. now owns 526,529 shares of the Wireless communications provider’s stock valued at $10,810,000 after purchasing an additional 14,350 shares during the period.

About SK Telecom

(Get Free Report)

SK Telecom Co, Ltd. is a South Korean telecommunications company that provides mobile communications, broadband internet, and media services. Its offerings include wireless voice and data plans, 5G connectivity, fixed-line broadband, internet protocol television, and related digital services for consumers and businesses.

The company also develops enterprise technology solutions in areas such as artificial intelligence, cloud computing, data centers, cybersecurity, and connected devices.

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