SK Telecom (NYSE:SKM) Cut to "Neutral" at JPMorgan Chase & Co.

SK Telecom (NYSE:SKM - Get Free Report) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a note issued to investors on Monday, MarketBeat.com reports.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group lowered SK Telecom from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. StockNews.com lowered SK Telecom from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 8th. UBS Group assumed coverage on SK Telecom in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. Finally, Citigroup lowered SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold".

SK Telecom Price Performance

Shares of NYSE:SKM traded up $0.26 during trading on Monday, hitting $20.58. 621,299 shares of the stock were exchanged, compared to its average volume of 286,083. The company has a fifty day moving average price of $21.47 and a two-hundred day moving average price of $21.81. The company has a market cap of $8.10 billion, a PE ratio of 8.40, a P/E/G ratio of 1.27 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. SK Telecom has a 12-month low of $19.84 and a 12-month high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. On average, analysts forecast that SK Telecom will post 2.27 EPS for the current year.

Institutional Investors Weigh In On SK Telecom

Hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its holdings in shares of SK Telecom by 3.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 13,465 shares of the Wireless communications provider's stock worth $283,000 after purchasing an additional 472 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of SK Telecom by 0.8% in the 4th quarter. Vident Advisory LLC now owns 73,815 shares of the Wireless communications provider's stock worth $1,553,000 after purchasing an additional 610 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of SK Telecom by 147.7% in the 4th quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider's stock worth $25,000 after purchasing an additional 721 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of SK Telecom by 15.2% in the 4th quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider's stock worth $122,000 after purchasing an additional 764 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of SK Telecom by 34.4% in the 4th quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider's stock worth $64,000 after purchasing an additional 773 shares during 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.