SK Telecom (NYSE:SKM) Upgraded at Zacks Research

Zacks Research upgraded shares of SK Telecom (NYSE:SKM) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of SK Telecom in a report on Monday, December 29th. Daiwa Capital Markets downgraded shares of SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen cut shares of SK Telecom from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

SK Telecom Stock Up 2.9%

Shares of SKM opened at $28.17 on Wednesday. SK Telecom has a fifty-two week low of $19.66 and a fifty-two week high of $28.35. The company’s fifty day moving average is $21.27 and its two-hundred day moving average is $21.45. The firm has a market cap of $10.78 billion, a PE ratio of 42.04, a price-to-earnings-growth ratio of 6.08 and a beta of 0.49. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

SK Telecom (NYSE:SKM) last issued its earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. SK Telecom had a return on equity of 5.30% and a net margin of 3.60%. Analysts forecast that SK Telecom will post 2.27 earnings per share for the current year.

Institutional Trading of SK Telecom

Large investors have recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of SK Telecom during the fourth quarter worth $246,000. UBS Group AG grew its holdings in SK Telecom by 215.4% during the 4th quarter. UBS Group AG now owns 426,729 shares of the Wireless communications provider’s stock valued at $8,761,000 after purchasing an additional 291,418 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in SK Telecom by 18.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 221,300 shares of the Wireless communications provider’s stock worth $4,543,000 after buying an additional 34,100 shares during the period. Matthews International Capital Management LLC lifted its holdings in SK Telecom by 50.4% in the 4th quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock worth $51,000 after buying an additional 835 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in SK Telecom in the 4th quarter valued at about $380,000.

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.