StockNews.com Downgrades SK Telecom (NYSE:SKM) to Buy

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

SKM has been the topic of several other research reports. The Goldman Sachs Group lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. UBS Group assumed coverage on shares of SK Telecom in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

SK Telecom Trading Up 0.7 %

NYSE:SKM traded up $0.14 during mid-day trading on Wednesday, hitting $21.48. The company had a trading volume of 273,343 shares, compared to its average volume of 245,427. The firm has a market cap of $8.46 billion, a P/E ratio of 8.77, a P/E/G ratio of 1.27 and a beta of 0.77. The business’s fifty day moving average is $21.61 and its two-hundred day moving average is $22.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91. SK Telecom has a fifty-two week low of $19.88 and a fifty-two week high of $24.58.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 EPS for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. As a group, research analysts expect that SK Telecom will post 2.27 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

Institutional investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. boosted its holdings in 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 during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of SK Telecom by 9.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,595,390 shares of the Wireless communications provider’s stock valued at $33,567,000 after buying an additional 133,742 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of SK Telecom by 0.3% in the 3rd quarter. Citigroup Inc. now owns 811,850 shares of the Wireless communications provider’s stock worth $19,298,000 after acquiring an additional 2,737 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in SK Telecom during the fourth quarter valued at about $10,712,000. Finally, O Shaughnessy Asset Management LLC increased its stake in SK Telecom by 41.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 289,356 shares of the Wireless communications provider’s stock worth $6,088,000 after purchasing an additional 85,278 shares during the period.

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.