SK Telecom (NYSE:SKM) Raised to “Hold” at Wall Street Zen

SK Telecom (NYSE:SKM) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

SKM has been the topic of several other research reports. Daiwa Securities Group downgraded shares of SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Zacks Research raised shares of SK Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of SK Telecom in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

SK Telecom Stock Down 5.6%

NYSE SKM opened at $28.41 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.03. The stock’s fifty day moving average price is $22.14 and its 200 day moving average price is $21.68. SK Telecom has a 1 year low of $19.66 and a 1 year high of $30.29.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. The firm had revenue of $2.83 billion for the quarter. SK Telecom had a net margin of 3.60% and a return on equity of 5.30%. As a group, analysts anticipate that SK Telecom will post 2.27 EPS for the current fiscal year.

Institutional Trading of SK Telecom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its position in shares of SK Telecom by 17.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,462,769 shares of the Wireless communications provider’s stock worth $50,561,000 after acquiring an additional 374,428 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of SK Telecom by 16.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,193,435 shares of the Wireless communications provider’s stock valued at $51,217,000 after purchasing an additional 303,646 shares in the last quarter. UBS Group AG raised its holdings in SK Telecom by 215.4% in the 4th quarter. UBS Group AG now owns 426,729 shares of the Wireless communications provider’s stock worth $8,761,000 after purchasing an additional 291,418 shares during the period. JPMorgan Chase & Co. boosted its position in SK Telecom by 236.1% during the second quarter. JPMorgan Chase & Co. now owns 383,123 shares of the Wireless communications provider’s stock worth $8,946,000 after purchasing an additional 269,135 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in SK Telecom during the third quarter worth approximately $4,319,000.

About SK Telecom

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.