SK Telecom (NYSE:SKM) Stock Rating Lowered by Wall Street Zen

Wall Street Zen downgraded shares of SK Telecom (NYSE:SKM - Free Report) from a buy rating to a hold rating in a research report report published on Thursday morning.

SKM has been the topic of several other reports. New Street Research raised SK Telecom to a "hold" rating in a research report on Monday, May 19th. UBS Group initiated coverage on SK Telecom in a report on Wednesday, February 19th. They set a "buy" rating on the stock. JPMorgan Chase & Co. lowered SK Telecom from an "overweight" rating to a "neutral" rating in a report on Monday, May 12th. The Goldman Sachs Group lowered SK Telecom from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. Finally, Citigroup lowered SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, SK Telecom currently has an average rating of "Hold".

SK Telecom Stock Up 0.6%

SKM stock traded up $0.13 during mid-day trading on Thursday, hitting $20.67. The stock had a trading volume of 156,438 shares, compared to its average volume of 287,382. 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 1-year low of $19.84 and a 1-year high of $24.58. The company has a fifty day moving average of $21.35 and a 200 day moving average of $21.71. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.27 and a beta of 0.63.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. grew its holdings in SK Telecom by 147.7% in the 4th quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider's stock valued at $25,000 after buying an additional 721 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in SK Telecom in the 1st quarter valued at approximately $37,000. SVB Wealth LLC acquired a new stake in SK Telecom in the 1st quarter valued at approximately $42,000. Brooklyn Investment Group grew its holdings in SK Telecom by 854.4% in the 1st quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider's stock valued at $49,000 after buying an additional 2,059 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in SK Telecom by 55.0% in the 1st quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock valued at $53,000 after buying an additional 884 shares during the last quarter.

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.