SK Telecom (NYSE:SKM) Share Price Crosses Above 200 Day Moving Average – What’s Next?

SK Telecom Co., Ltd. (NYSE:SKM)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.41 and traded as high as $28.99. SK Telecom shares last traded at $28.8350, with a volume of 785,169 shares traded.

Analysts Set New Price Targets

SKM has been the subject of several analyst reports. Daiwa Securities Group lowered shares of SK Telecom to a “hold” rating in a research note on Wednesday, January 14th. Citigroup downgraded SK Telecom from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Zacks Research raised SK Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Weiss Ratings upgraded SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Finally, Wall Street Zen raised SK Telecom from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

SK Telecom Trading Up 1.4%

The firm has a 50 day moving average of $28.26 and a 200 day moving average of $23.41. The firm has a market cap of $11.07 billion, a PE ratio of 42.41, a P/E/G ratio of 3.98 and a beta of 0.48. 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) last issued its earnings results on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $10.57. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%.The firm had revenue of $214.28 billion for the quarter, compared to analyst estimates of $3.02 billion. Equities analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Institutional Trading of SK Telecom

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of SK Telecom by 8.2% during the first quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock worth $936,000 after acquiring an additional 3,316 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of SK Telecom during the first quarter valued at about $85,000. Millennium Management LLC increased its position in shares of SK Telecom by 160.7% during the first quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock valued at $4,823,000 after buying an additional 139,829 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of SK Telecom by 46.9% in the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock worth $5,531,000 after buying an additional 83,030 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of SK Telecom by 163.9% in the second quarter. SG Americas Securities LLC now owns 30,163 shares of the Wireless communications provider’s stock worth $704,000 after buying an additional 18,735 shares in the last quarter.

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.