Citigroup Downgrades SK Telecom (NYSE:SKM) to Neutral

SK Telecom (NYSE:SKM - Get Free Report) was downgraded by stock analysts at Citigroup from a "buy" rating to a "neutral" rating in a report issued on Tuesday,Briefing.com Automated Import reports.

Several other brokerages also recently weighed in on SKM. UBS Group initiated coverage on shares of SK Telecom in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. StockNews.com upgraded SK Telecom from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. Finally, The Goldman Sachs Group downgraded SK Telecom from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

SK Telecom Trading Down 1.0 %

SK Telecom stock traded down $0.21 during trading on Tuesday, hitting $21.61. The company had a trading volume of 218,264 shares, compared to its average volume of 275,412. SK Telecom has a 1-year low of $20.28 and a 1-year high of $24.58. The company's 50 day simple moving average is $21.64 and its 200-day simple moving average is $21.94. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 1.27 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48.

SK Telecom (NYSE:SKM - Get Free Report) last posted its earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. As a group, analysts expect that SK Telecom will post 2.27 EPS for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Hedge funds and other institutional investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its position in SK Telecom by 24.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider's stock valued at $61,827,000 after acquiring an additional 583,519 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of SK Telecom during the fourth quarter worth about $10,712,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of SK Telecom by 9.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,595,390 shares of the Wireless communications provider's stock valued at $33,567,000 after purchasing an additional 133,742 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of SK Telecom in the 4th quarter valued at about $1,879,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of SK Telecom by 41.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 289,356 shares of the Wireless communications provider's stock valued at $6,088,000 after acquiring an additional 85,278 shares during the period.

About SK Telecom

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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