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

by · The Markets Daily

StockNews.com downgraded shares of SK Telecom (NYSE:SKM – Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

SK Telecom Stock Performance

SKM stock traded down $0.67 during midday trading on Friday, reaching $22.24. The stock had a trading volume of 188,940 shares, compared to its average volume of 271,077. The firm has a fifty day simple moving average of $23.34 and a two-hundred day simple moving average of $22.12. SK Telecom has a 52-week low of $19.88 and a 52-week high of $24.58. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.98. The stock has a market cap of $9.82 billion, a PE ratio of 10.30, a P/E/G ratio of 2.18 and a beta of 0.77.

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

Institutional Trading of SK Telecom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in SK Telecom by 27.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock valued at $53,000 after acquiring an additional 488 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of SK Telecom by 104.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the Wireless communications provider’s stock worth $55,000 after purchasing an additional 1,372 shares during the last quarter. Assetmark Inc. grew its stake in SK Telecom by 57.6% during the 3rd 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 in the last quarter. Advisors Preferred LLC purchased a new position in SK Telecom in the 1st quarter worth approximately $112,000. Finally, Ariadne Wealth Management LP acquired a new position in shares of SK Telecom during the 2nd quarter worth approximately $127,000.

SK Telecom Company Profile

(Get Free Report)

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.

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