SK Telecom (NYSE:SKM) Lowered to Buy Rating by StockNews.com

SK Telecom (NYSE:SKM) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

SK Telecom Stock Down 2.9 %

Shares of NYSE:SKM traded down $0.66 during mid-day trading on Friday, hitting $22.25. 188,940 shares of the company traded hands, compared to its average volume of 271,077. The firm’s 50 day simple moving average is $23.34 and its 200 day simple moving average is $22.12. The firm has a market cap of $9.82 billion, a P/E ratio of 10.30, a PEG ratio of 2.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.98. SK Telecom has a 52-week low of $19.88 and a 52-week high of $24.58.

SK Telecom (NYSE:SKM) last posted its earnings results on Tuesday, August 6th. The Wireless communications provider reported $0.63 EPS for the quarter. The business had revenue of $3.22 billion for the quarter. SK Telecom had a net margin of 6.31% and a return on equity of 8.54%. On average, equities analysts anticipate that SK Telecom will post 2.14 EPS for the current year.

Institutional Trading of SK Telecom

Several large investors have recently modified their holdings of the business. Advisors Asset Management Inc. bought a new stake in shares of SK Telecom in the third quarter worth $237,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of SK Telecom in the 3rd quarter worth about $4,227,000. Caprock Group LLC lifted its position in shares of SK Telecom by 19.5% during the third quarter. Caprock Group LLC now owns 22,603 shares of the Wireless communications provider’s stock worth $537,000 after purchasing an additional 3,692 shares during the last quarter. Pathstone Holdings LLC grew its stake in SK Telecom by 2.3% in the third quarter. Pathstone Holdings LLC now owns 62,990 shares of the Wireless communications provider’s stock worth $1,497,000 after purchasing an additional 1,412 shares in the last quarter. Finally, Natixis Advisors LLC raised its stake in SK Telecom by 36.9% during the third quarter. Natixis Advisors LLC now owns 97,156 shares of the Wireless communications provider’s stock valued at $2,309,000 after buying an additional 26,206 shares in the last quarter.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates through three segments: Cellular Services, Fixed-Line Telecommunications Services, and Other Businesses. The Cellular Services segment offers wireless voice and data transmission, Internet of Things solutions, platform, cloud, smart factory solutions, subscription, advertising and curated shopping under T Deal brand name, and metaverse platform-based services, as well as sells wireless devices.