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

StockNews.com downgraded shares of SK Telecom (NYSE:SKM) from a strong-buy rating to a buy rating in a research note published on Friday.

Other equities research analysts have also recently issued research reports about the stock. Nomura Securities raised shares of SK Telecom from a strong sell rating to a hold rating in a research report on Wednesday, May 8th. Nomura raised shares of SK Telecom from a reduce rating to a neutral rating in a research report on Wednesday, May 8th.

SK Telecom Stock Performance

Shares of SK Telecom stock opened at $20.71 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average of $20.99 and a 200-day moving average of $21.16. SK Telecom has a 52-week low of $18.77 and a 52-week high of $22.71.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Wednesday, May 8th. The Wireless communications provider reported $0.68 earnings per share for the quarter. The business had revenue of $3.36 billion during the quarter. SK Telecom had a net margin of 6.53% and a return on equity of 8.97%. Equities analysts forecast that SK Telecom will post 2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Several institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC increased its stake in shares of SK Telecom by 3,900.0% in the 4th quarter. CWM LLC now owns 1,160 shares of the Wireless communications provider’s stock worth $25,000 after acquiring an additional 1,131 shares in the last quarter. Assetmark Inc. bought a new position in shares of SK Telecom in the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in shares of SK Telecom by 1,558.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the Wireless communications provider’s stock worth $28,000 after acquiring an additional 1,231 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of SK Telecom in the 4th quarter worth about $29,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of SK Telecom by 116.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,342 shares of the Wireless communications provider’s stock worth $72,000 after acquiring an additional 1,798 shares in the last quarter.

SK Telecom Company Profile

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.