SK Telecom (NYSE:SKM) Upgraded by JPMorgan Chase & Co. to Overweight Rating

JPMorgan Chase & Co. upgraded shares of SK Telecom (NYSE:SKM) from a neutral rating to an overweight rating in a report issued on Thursday,Benzinga reports.

A number of other brokerages have also commented on SKM. HSBC upgraded shares of SK Telecom from a “reduce” rating to a “hold” rating in a report on Thursday, May 7th. Weiss Ratings downgraded SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, SK Telecom has an average rating of “Reduce”.

SK Telecom Stock Down 1.5%

NYSE SKM opened at $31.77 on Thursday. 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 fifty-two week low of $19.66 and a fifty-two week high of $47.18. The business has a 50 day moving average price of $36.30 and a two-hundred day moving average price of $31.86. The stock has a market cap of $12.19 billion, a PE ratio of 52.95, a P/E/G ratio of 0.20 and a beta of 0.63.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. As a group, sell-side analysts predict that SK Telecom will post 2.76 EPS for the current fiscal year.

Institutional Trading of SK Telecom

Several institutional investors have recently added to or reduced their stakes in the stock. Boston Common Asset Management LLC increased its position in shares of SK Telecom by 83.1% in the 4th quarter. Boston Common Asset Management LLC now owns 362,424 shares of the Wireless communications provider’s stock worth $7,441,000 after purchasing an additional 164,472 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of SK Telecom by 18.2% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 221,300 shares of the Wireless communications provider’s stock valued at $4,543,000 after purchasing an additional 34,100 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of SK Telecom by 17.9% during 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 purchasing an additional 374,428 shares during the last quarter. Calamos Wealth Management LLC bought a new position in shares of SK Telecom during the first quarter worth about $3,511,000. Finally, Calamos Advisors LLC acquired a new position in SK Telecom in the first quarter worth about $9,065,000.

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.