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

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

SK Telecom Stock Up 0.2 %

NYSE:SKM traded up $0.03 during mid-day trading on Friday, reaching $21.39. The stock had a trading volume of 165,819 shares, compared to its average volume of 217,208. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 1.87 and a beta of 0.80. SK Telecom has a 1-year low of $19.88 and a 1-year high of $24.58. The stock’s 50 day simple moving average is $22.00 and its two-hundred day simple moving average is $22.51.

SK Telecom (NYSE:SKM) last posted its earnings results on Wednesday, November 6th. The Wireless communications provider reported $0.51 EPS for the quarter. The firm had revenue of $3.35 billion during the quarter. SK Telecom had a net margin of 6.31% and a return on equity of 9.03%. Equities analysts anticipate that SK Telecom will post 1.96 EPS for the current year.

Hedge Funds Weigh In On SK Telecom

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. raised its stake in shares of SK Telecom by 24.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock worth $61,827,000 after buying an additional 583,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in SK Telecom during the third quarter worth about $4,227,000. AQR Capital Management LLC bought a new stake in SK Telecom in the second quarter worth about $1,570,000. Meritage Portfolio Management boosted its position in shares of SK Telecom by 45.6% during the 3rd quarter. Meritage Portfolio Management now owns 178,392 shares of the Wireless communications provider’s stock valued at $4,240,000 after purchasing an additional 55,877 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of SK Telecom by 37.5% in the 2nd quarter. Millennium Management LLC now owns 158,866 shares of the Wireless communications provider’s stock worth $3,325,000 after purchasing an additional 43,327 shares during 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.