SK Telecom Co., Ltd. (NYSE:SKM) Given Consensus Recommendation of "Reduce" by Analysts

Key Points

• Analysts have a consensus “Reduce” rating on SK Telecom: three recommend selling, three advise holding, and one recommends buying.
• SK Telecom reported quarterly EPS of $0.81, beating the $0.59 consensus estimate, but revenue of $2.81 billion fell short of the $2.96 billion forecast.
• The stock opened at $35.61, with a market capitalization of $13.66 billion and a 12-month trading range of $19.66 to $47.18.

SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report) has received a consensus recommendation of "Reduce" from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company.

Several equities research analysts recently commented on SKM shares. 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. Wall Street Zen upgraded shares of SK Telecom from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Zacks Research cut shares of SK Telecom from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, August 27th. Finally, JPMorgan Chase & Co. upgraded SK Telecom from a "neutral" rating to an "overweight" rating in a report on Thursday, July 16th.

SK Telecom Price Performance

SK Telecom stock opened at $35.61 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $13.66 billion, a PE ratio of 28.49 and a beta of 0.67. SK Telecom has a 12 month low of $19.66 and a 12 month high of $47.18. The stock has a 50-day moving average price of $35.65 and a two-hundred day moving average price of $35.04.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.22. SK Telecom had a return on equity of 5.59% and a net margin of 4.23%.The company had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.96 billion. Analysts expect that SK Telecom will post 2.21 EPS for the current year.

Institutional Investors Weigh In On SK Telecom

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Groupama Asset Managment grew its stake in SK Telecom by 1.7% in the 4th 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 during the period. Allworth Financial LP raised its stake in shares of SK Telecom by 11.3% during the 2nd quarter. Allworth Financial LP now owns 4,990 shares of the Wireless communications provider's stock worth $160,000 after purchasing an additional 507 shares during the period. Matthews International Capital Management LLC raised its stake in shares of SK Telecom by 33.5% during the 1st quarter. Matthews International Capital Management LLC now owns 3,326 shares of the Wireless communications provider's stock worth $97,000 after purchasing an additional 835 shares during the period. Greenspring Advisors LLC boosted 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 buying an additional 935 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of SK Telecom by 26.9% in the 2nd quarter. GAMMA Investing LLC now owns 7,202 shares of the Wireless communications provider's stock worth $232,000 after buying an additional 1,526 shares during the last quarter.

About SK Telecom

SK Telecom Co, Ltd. is a South Korean telecommunications company that provides mobile communications, broadband internet, and media services. Its offerings include wireless voice and data plans, 5G connectivity, fixed-line broadband, internet protocol television, and related digital services for consumers and businesses.

The company also develops enterprise technology solutions in areas such as artificial intelligence, cloud computing, data centers, cybersecurity, and connected devices.

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