SK Telecom (NYSE:SKM) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• SK Telecom shares crossed above their 200-day moving average, reaching $36.72 and last trading near $36.44, compared with the $35.64 long-term average.
• Analyst sentiment remains mixed, with recent upgrades from JPMorgan and Wall Street Zen but a downgrade from Zacks Research; MarketBeat’s consensus rating is “Reduce.”
• SK Telecom beat quarterly EPS expectations, reporting $0.81 versus the $0.59 consensus, although revenue of $2.81 billion fell short of the $2.96 billion estimate.

SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $35.64 and traded as high as $36.72. SK Telecom shares last traded at $36.4440, with a volume of 698,111 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SKM shares. Zacks Research downgraded shares of SK Telecom from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, August 27th. JPMorgan Chase & Co. raised SK Telecom from a "neutral" rating to an "overweight" rating in a research note on Thursday, July 16th. Wall Street Zen upgraded SK Telecom from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Finally, Weiss Ratings raised SK Telecom from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, SK Telecom has a consensus rating of "Reduce".

SK Telecom Trading Up 0.1%

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.22. The stock's 50-day moving average is $36.50 and its two-hundred day moving average is $35.64. The stock has a market cap of $13.99 billion, a P/E ratio of 29.16 and a beta of 0.72.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.22. The company 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 research analysts anticipate that SK Telecom Co., Ltd. will post 2.21 EPS for the current year.

Hedge Funds Weigh In On SK Telecom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SKM. Groupama Asset Managment boosted its holdings in shares of SK Telecom by 1.7% in the 4th quarter. Groupama Asset Managment now owns 25,371 shares of the Wireless communications provider's stock worth $521,000 after purchasing an additional 418 shares during the period. QRG Capital Management Inc. raised its holdings in 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 valued at $613,000 after buying an additional 504 shares during the period. Allworth Financial LP lifted its position in SK Telecom by 11.3% in the second 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 during the last quarter. Matthews International Capital Management LLC boosted 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. Finally, Greenspring Advisors LLC grew its holdings in SK Telecom by 9.0% during the 2nd quarter. Greenspring Advisors LLC now owns 11,369 shares of the Wireless communications provider's stock valued at $366,000 after purchasing an additional 935 shares during the last quarter.

About SK Telecom

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.