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

Key Points

• SK Telecom Co., Ltd. has received an average rating of "Hold" from five analysts, highlighting a mixed outlook with one sell, three hold, and one buy rating.
• Recent changes in ratings include JPMorgan Chase lowering the stock from "overweight" to "neutral" and Goldman Sachs downgrading it from "neutral" to "sell".
• SK Telecom reported a quarterly earnings per share (EPS) of $0.16, missing analysts' expectations of $0.36, contributing to concerns over its financial performance.

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

Several analysts have weighed in on the company. Wall Street Zen lowered SK Telecom from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. New Street Research upgraded shares of SK Telecom to a "hold" rating in a report on Monday, May 19th. Finally, The Goldman Sachs Group downgraded SK Telecom from a "neutral" rating to a "sell" rating in a research report on Monday, July 7th.

SK Telecom Price Performance

SKM stock traded down $0.08 on Monday, reaching $21.74. 455,521 shares of the company's stock were exchanged, compared to its average volume of 334,888. The stock has a fifty day moving average of $22.15 and a 200-day moving average of $21.80. SK Telecom has a twelve month low of $19.84 and a twelve month high of $24.58. The firm has a market cap of $8.56 billion, a PE ratio of 11.15, a P/E/G ratio of 11.11 and a beta of 0.58. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.55.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share 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 business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.14 billion. As a group, equities analysts predict that SK Telecom will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

A number of large investors have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its holdings in shares of SK Telecom by 2.7% in the 1st 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 during the period. Arrowstreet Capital Limited Partnership grew its stake in SK Telecom by 16.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,193,435 shares of the Wireless communications provider's stock valued at $51,217,000 after purchasing an additional 303,646 shares in the last quarter. Citigroup Inc. grew its stake in SK Telecom by 55.5% during the 1st quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider's stock valued at $25,572,000 after purchasing an additional 429,434 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in 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 valued at $22,518,000 after purchasing an additional 17,718 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of SK Telecom by 1.4% in the 2nd quarter. Bank of America Corp DE now owns 809,167 shares of the Wireless communications provider's stock worth $18,894,000 after acquiring an additional 10,820 shares in the last quarter.

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.