SK Telecom (NYSE:SKM) Stock Rating Lowered by Citigroup

Citigroup cut shares of SK Telecom (NYSE:SKM - Free Report) from a buy rating to a neutral rating in a report issued on Tuesday, Marketbeat Ratings reports.

A number of other equities research analysts have also weighed in on SKM. StockNews.com upgraded SK Telecom from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. The Goldman Sachs Group downgraded shares of SK Telecom from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. Finally, UBS Group started coverage on shares of SK Telecom in a research report on Wednesday, February 19th. They set a "buy" rating for the company.

SK Telecom Stock Performance

Shares of NYSE SKM traded down $0.27 during trading on Tuesday, reaching $20.79. 495,466 shares of the company traded hands, compared to its average volume of 279,590. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. SK Telecom has a 52-week low of $20.28 and a 52-week high of $24.58. The stock has a market capitalization of $8.19 billion, a PE ratio of 8.49, a P/E/G ratio of 1.27 and a beta of 0.63. The firm has a 50 day simple moving average of $21.59 and a 200-day simple moving average of $21.90.

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

Institutional Trading of SK Telecom

Institutional investors and hedge funds have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. lifted its stake in shares of SK Telecom by 2.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider's stock worth $64,175,000 after purchasing an additional 80,042 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position 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 worth $33,567,000 after acquiring an additional 133,742 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of SK Telecom by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,062,667 shares of the Wireless communications provider's stock valued at $22,518,000 after acquiring an additional 17,718 shares during the last quarter. BNP Paribas Financial Markets bought a new position in SK Telecom during the fourth quarter worth $10,712,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in 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 worth $6,088,000 after purchasing an additional 85,278 shares during the period.

SK Telecom Company Profile

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.