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

StockNews.com cut shares of SK Telecom (NYSE:SKM) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning.

A number of other equities analysts also recently issued reports on SKM. UBS Group started coverage on SK Telecom in a report on Wednesday, February 19th. They issued a “buy” rating for the company. The Goldman Sachs Group downgraded SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold”.

SK Telecom Stock Down 0.4 %

SKM stock opened at $21.41 on Wednesday. The company’s 50 day moving average price is $21.62 and its 200 day moving average price is $22.45. 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. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 1.27 and a beta of 0.77.

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

Hedge Funds Weigh In On SK Telecom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKM. Principal Securities Inc. boosted its holdings in shares of SK Telecom by 147.7% in the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider’s stock valued at $25,000 after acquiring an additional 721 shares during the period. Matthews International Capital Management LLC boosted its holdings in shares of SK Telecom by 102.5% in the fourth quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider’s stock valued at $54,000 after acquiring an additional 1,291 shares during the period. GAMMA Investing LLC boosted its holdings in shares of SK Telecom by 34.4% in the fourth quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock valued at $64,000 after acquiring an additional 773 shares during the period. Assetmark Inc. boosted its holdings in shares of SK Telecom by 57.6% in the third quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock valued at $70,000 after acquiring an additional 1,078 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of SK Telecom by 15.2% in the fourth quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider’s stock valued at $122,000 after acquiring an additional 764 shares during the period.

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.