SK Telecom Co., Ltd. (NYSE:SKM) Receives Average Rating of "Hold" from Brokerages

Key Points

• SK Telecom Co., Ltd. has received a consensus rating of "Hold" from five brokerage firms, including one sell, three hold, and one buy recommendation.
• Recently, multiple analysts downgraded their ratings on SK Telecom, with Goldman Sachs lowering it from "neutral" to "sell", and other firms adjusting ratings to "neutral" or "hold".
• SK Telecom reported a quarterly earnings miss with an EPS of $0.16, falling short of the $0.36 consensus estimate, alongside a revenue of $3.12 billion compared to the expected $3.14 billion.

Shares of SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report) have earned an average rating of "Hold" from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company.

A number of brokerages have weighed in on SKM. Citigroup lowered SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. The Goldman Sachs Group lowered SK Telecom from a "neutral" rating to a "sell" rating in a report on Monday, July 7th. Wall Street Zen lowered SK Telecom from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. New Street Research raised SK Telecom to a "hold" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. lowered SK Telecom from an "overweight" rating to a "neutral" rating in a report on Monday, May 12th.

Institutional Investors Weigh In On SK Telecom

A number of hedge funds and other institutional investors have recently modified their holdings of SKM. Envestnet Asset Management Inc. raised its position in shares of SK Telecom by 87.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 157,789 shares of the Wireless communications provider's stock worth $3,355,000 after purchasing an additional 73,444 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of SK Telecom during the 4th quarter worth approximately $309,000. Allspring Global Investments Holdings LLC raised its position in shares of SK Telecom by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,062,667 shares of the Wireless communications provider's stock worth $22,518,000 after purchasing an additional 17,718 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of SK Telecom during the 1st quarter worth approximately $302,000. Finally, GAMMA Investing LLC raised its position in shares of SK Telecom by 1,961.9% during the 1st quarter. GAMMA Investing LLC now owns 62,249 shares of the Wireless communications provider's stock worth $1,323,000 after purchasing an additional 59,230 shares during the last quarter.

SK Telecom Stock Performance

Shares of NYSE SKM traded down $0.18 during midday trading on Thursday, reaching $22.38. 424,972 shares of the company were exchanged, compared to its average volume of 380,586. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. SK Telecom has a 1 year low of $19.84 and a 1 year high of $24.58. The stock has a fifty day simple moving average of $22.45 and a 200 day simple moving average of $21.80. The stock has a market cap of $8.81 billion, a P/E ratio of 11.47, a PEG ratio of 9.18 and a beta of 0.63.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.20). SK Telecom had a return on equity of 8.89% and a net margin of 5.92%. The company had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.14 billion. On average, research analysts forecast that SK Telecom will post 2.27 earnings per share for the current fiscal year.

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.