SK Telecom (NYSE:SKM) Trading Up 5.7% – Time to Buy?
by Kim Johansen · The Markets DailySK Telecom Co., Ltd. (NYSE:SKM – Get Free Report) was up 5.7% on Tuesday . The stock traded as high as $31.80 and last traded at $31.9340. Approximately 1,362,870 shares were traded during trading, a decline of 17% from the average daily volume of 1,638,170 shares. The stock had previously closed at $30.22.
Analysts Set New Price Targets
Several equities analysts have weighed in on SKM shares. Wall Street Zen raised SK Telecom from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Zacks Research downgraded SK Telecom from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Daiwa Securities Group downgraded SK Telecom to a “hold” rating in a research report on Wednesday, January 14th. Weiss Ratings upgraded SK Telecom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. Finally, Citigroup downgraded SK Telecom from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.
SK Telecom Stock Up 3.6%
The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market cap of $13.67 billion, a PE ratio of 52.39, a P/E/G ratio of 4.14 and a beta of 0.46. The stock has a 50-day moving average of $29.96 and a 200-day moving average of $24.11.
SK Telecom (NYSE:SKM – Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $10.57. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%.The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.02 billion. Sell-side analysts predict that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current fiscal year.
Institutional Investors Weigh In On SK Telecom
A number of large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its position in SK Telecom by 70.8% during the fourth quarter. Hsbc Holdings PLC now owns 39,997 shares of the Wireless communications provider’s stock valued at $821,000 after purchasing an additional 16,574 shares in the last quarter. Corient Private Wealth LLC raised its position in SK Telecom by 21.5% during the fourth quarter. Corient Private Wealth LLC now owns 51,730 shares of the Wireless communications provider’s stock valued at $1,062,000 after purchasing an additional 9,147 shares in the last quarter. Groupama Asset Managment raised its position in SK Telecom by 1.7% during the fourth quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider’s stock valued at $521,000 after purchasing an additional 418 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in SK Telecom during the fourth quarter valued at about $1,509,000. Finally, Millennium Management LLC raised its position in SK Telecom by 202.4% during the fourth quarter. Millennium Management LLC now owns 606,347 shares of the Wireless communications provider’s stock valued at $12,448,000 after purchasing an additional 405,863 shares in the last quarter.
SK Telecom Company Profile
SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.
Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.