SK Telecom (NYSE:SKM) Shares Break Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• SK Telecom shares moved above their 200-day moving average, trading as high as $34.58 and last changing hands at $34.29, compared with a 200-day average of $34.09.
• Analyst views remain cautious: one analyst rates the stock Buy, four Hold and two Sell, producing an average MarketBeat rating of “Reduce.”
• The company beat quarterly expectations, reporting EPS of $0.75 versus $0.68 forecast and revenue of $3.31 billion versus $3.27 billion expected.

SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $34.09 and traded as high as $34.58. SK Telecom shares last traded at $34.29, with a volume of 3,330,203 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. upgraded SK Telecom from a "neutral" rating to an "overweight" rating in a research note on Thursday, July 16th. Zacks Research upgraded SK Telecom from a "strong sell" rating to a "hold" rating in a research report on Monday, October 12th. Wall Street Zen downgraded SK Telecom from a "buy" rating to a "hold" rating in a report on Saturday, November 7th. Finally, Weiss Ratings upgraded SK Telecom from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce".

SK Telecom Price Performance

The company has a market capitalization of $13.16 billion, a P/E ratio of 12.38 and a beta of 0.78. The company has a fifty day moving average price of $34.20 and a 200 day moving average price of $34.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.22.

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 (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.07. SK Telecom had a return on equity of 9.26% and a net margin of 7.49%. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.27 billion. On average, sell-side analysts forecast that SK Telecom Co., Ltd. will post 3.90 EPS for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in SK Telecom by 4.2% in the 3rd quarter. GAMMA Investing LLC now owns 7,503 shares of the Wireless communications provider's stock valued at $262,000 after buying an additional 301 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of SK Telecom by 2.7% during the 2nd quarter. QRG Capital Management Inc. now owns 19,069 shares of the Wireless communications provider's stock worth $613,000 after buying an additional 504 shares in the last quarter. Allworth Financial LP raised its position 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 buying an additional 507 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of SK Telecom by 5.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 16,910 shares of the Wireless communications provider's stock worth $590,000 after buying an additional 853 shares in the last quarter. Finally, Greenspring Advisors LLC lifted its stake 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 acquiring an additional 935 shares during the period.

About SK Telecom

SK Telecom is a South Korean telecommunications company that provides mobile voice and data services, including 5G connectivity, to consumers and businesses. Its offerings also include internet of things and enterprise connectivity solutions. Through its subsidiary SK Broadband, the company provides fixed-line broadband and IPTV services, including its B tv platform. SK Telecom is also developing artificial intelligence services and infrastructure, alongside data center and cloud-related offerings.

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