SK Telecom (NYSE:SKM) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded SK Telecom from “strong sell” to “hold,” while analyst sentiment overall remains cautious with an average “Reduce” rating.
• SK Telecom shares opened at $34.42, up 2.9%, with a market capitalization of about $13.21 billion; the stock’s 12-month range is $19.66 to $47.18.
• The company’s latest quarterly results beat earnings expectations, reporting $0.81 EPS versus the $0.59 consensus, although revenue of $2.81 billion fell short of the $2.96 billion estimate.

SK Telecom (NYSE:SKM - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

Several other brokerages have also issued reports on SKM. Weiss Ratings upgraded SK Telecom from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 13th. JPMorgan Chase & Co. raised shares of SK Telecom from a "neutral" rating to an "overweight" rating in a research report on Thursday, July 16th. Finally, Wall Street Zen raised SK Telecom from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce".

SK Telecom Stock Up 2.9%

Shares of SKM opened at $34.42 on Monday. SK Telecom has a 12 month low of $19.66 and a 12 month high of $47.18. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 26.76 and a beta of 0.72. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $36.73 and a two-hundred day moving average price of $35.81.

SK Telecom (NYSE:SKM - Get Free Report) last issued its earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.22. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.96 billion. SK Telecom had a net margin of 4.23% and a return on equity of 5.30%. Equities analysts predict that SK Telecom will post 2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Large investors have recently added to or reduced their stakes in the company. Calamos Advisors LLC bought a new stake in SK Telecom in the 1st quarter valued at $9,065,000. ABN Amro Investment Solutions lifted its holdings in shares of SK Telecom by 136.8% during the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider's stock worth $16,647,000 after acquiring an additional 328,300 shares during the period. Calamos Wealth Management LLC bought a new stake in SK Telecom during the first quarter worth $3,511,000. WINTON GROUP Ltd bought a new stake in shares of SK Telecom during the 2nd quarter worth $965,000. Finally, Euro Pacific Asset Management LLC boosted its stake in SK Telecom by 80.6% in the first quarter. Euro Pacific Asset Management LLC now owns 223,557 shares of the Wireless communications provider's stock valued at $6,513,000 after buying an additional 99,741 shares in the last quarter.

SK Telecom Company Profile

SK Telecom Co, Ltd. is a South Korean telecommunications company and a member of the SK Group. Headquartered in Seoul, the company provides mobile communications services, including voice, messaging, wireless data, 5G connectivity and related subscription services, primarily in South Korea.

Through its affiliates and business operations, SK Telecom also offers fixed-line broadband internet, internet protocol television and media services. Its enterprise portfolio includes cloud computing, data center services, information and communication technology solutions, artificial intelligence and Internet of Things services for businesses and public-sector customers.

The company traces its origins to Korea Mobile Telecommunications, established in 1984, and adopted the SK Telecom name in 1998 following its incorporation into the SK Group.

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