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

Key Points

• SK Telecom has received a consensus recommendation of "Hold" from five brokerages, with one analyst rating it as a sell and one as a buy.
• Goldman Sachs downgraded SK Telecom from a "neutral" rating to a "sell" rating, reflecting a negative outlook for the company.
• In the second quarter, hedge funds significantly increased their stakes in SK Telecom, with Osaic Holdings growing its position by 408.9%.

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

Separately, The Goldman Sachs Group lowered shares of SK Telecom from a "neutral" rating to a "sell" rating in a research report on Monday, July 7th.

Hedge Funds Weigh In On SK Telecom

Hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its stake in SK Telecom by 408.9% during the second quarter. Osaic Holdings Inc. now owns 4,265 shares of the Wireless communications provider's stock worth $97,000 after buying an additional 3,427 shares during the period. Squarepoint Ops LLC purchased a new stake in SK Telecom during the second quarter worth approximately $971,000. Evergreen Capital Management LLC purchased a new stake in SK Telecom during the second quarter worth approximately $230,000. Corient Private Wealth LLC grew its stake in SK Telecom by 63.9% during the second quarter. Corient Private Wealth LLC now owns 56,636 shares of the Wireless communications provider's stock worth $1,322,000 after buying an additional 22,083 shares during the period. Finally, Vident Advisory LLC grew its stake in SK Telecom by 30.5% during the second quarter. Vident Advisory LLC now owns 112,929 shares of the Wireless communications provider's stock worth $2,637,000 after buying an additional 26,369 shares during the period.

SK Telecom Stock Performance

Shares of NYSE SKM opened at $21.74 on Friday. The company has a market cap of $8.56 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 11.02 and a beta of 0.58. SK Telecom has a 12 month low of $19.84 and a 12 month high of $24.34. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.01. The company has a 50-day simple moving average of $22.00 and a 200-day simple moving average of $21.82.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.20). The firm had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.14 billion. SK Telecom had a return on equity of 8.92% and a net margin of 5.92%. On average, equities analysts anticipate that SK Telecom will post 2.27 earnings per share for the current year.

SK Telecom Company Profile

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.

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