SK Telecom (NYSE:SKM) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded SK Telecom from “Buy” to “Hold.” Across analysts, one rates it Buy, four Hold and two Sell; MarketBeat reports an average rating of “Reduce.”
• SK Telecom beat quarterly estimates, reporting earnings per share of $0.75 versus $0.68 expected and revenue of $3.31 billion versus $3.27 billion expected.
• The stock was reported up 6.0%, opening at $31.18; its 12-month trading range was $19.66 to $47.18.

SK Telecom (NYSE:SKM - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings upgraded shares of SK Telecom from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. upgraded SK Telecom from a "neutral" rating to an "overweight" rating in a report on Thursday, July 16th. Finally, Zacks Research raised SK Telecom from a "strong sell" rating to a "hold" rating in a research note on Monday, October 12th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce".

SK Telecom Trading Up 6.0%

NYSE:SKM opened at $31.18 on Friday. SK Telecom has a 12 month low of $19.66 and a 12 month high of $47.18. The firm has a fifty day simple moving average of $34.52 and a two-hundred day simple moving average of $33.95. The stock has a market capitalization of $11.96 billion, a price-to-earnings ratio of 24.14 and a beta of 0.78. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.49.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The Wireless communications provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. SK Telecom had a net margin of 4.23% and a return on equity of 5.30%. The business had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.27 billion. Analysts expect that SK Telecom will post 2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Several institutional investors have recently added to or reduced their stakes in SKM. GAMMA Investing LLC increased its holdings in shares of SK Telecom by 4.2% in the third quarter. GAMMA Investing LLC now owns 7,503 shares of the Wireless communications provider's stock valued at $262,000 after purchasing an additional 301 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of SK Telecom by 2.7% in the 2nd quarter. QRG Capital Management Inc. now owns 19,069 shares of the Wireless communications provider's stock valued at $613,000 after purchasing an additional 504 shares in the last quarter. Allworth Financial LP raised its holdings in SK Telecom by 11.3% in the 2nd quarter. Allworth Financial LP now owns 4,990 shares of the Wireless communications provider's stock valued at $160,000 after buying an additional 507 shares during the last quarter. Matthews International Capital Management LLC lifted its stake in shares of SK Telecom by 33.5% in the 1st quarter. Matthews International Capital Management LLC now owns 3,326 shares of the Wireless communications provider's stock valued at $97,000 after purchasing an additional 835 shares during the period. Finally, Greenspring Advisors LLC lifted its holdings in shares of SK Telecom by 9.0% in the 2nd quarter. Greenspring Advisors LLC now owns 11,369 shares of the Wireless communications provider's stock worth $366,000 after purchasing an additional 935 shares in the last quarter.

SK Telecom Company Profile

SK Telecom Co, Ltd. is a South Korean telecommunications company that provides mobile communications and information technology services. The company offers wireless voice and data services, mobile connectivity, internet access, and related digital products to consumers and businesses.

Through its broadband and media operations, SK Telecom provides fixed-line internet, internet protocol television, and video and entertainment services. It also serves corporate and institutional customers with enterprise telecommunications, cloud, data center, cybersecurity, and other technology solutions.

SK Telecom is headquartered in South Korea and primarily serves the South Korean market, while also pursuing international opportunities through technology partnerships and investments.

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