SK Telecom (NYSE:SKM) Downgraded by Wall Street Zen to Hold

SK Telecom (NYSE:SKM - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Thursday.

Other equities research analysts also recently issued research reports about the company. UBS Group started coverage on SK Telecom in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. cut SK Telecom from an "overweight" rating to a "neutral" rating in a report on Monday, May 12th. The Goldman Sachs Group downgraded SK Telecom from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Citigroup cut shares of SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. Finally, New Street Research raised shares of SK Telecom to a "hold" rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

SK Telecom Stock Performance

NYSE:SKM traded down $0.27 on Thursday, reaching $20.42. 35,906 shares of the company's stock were exchanged, compared to its average volume of 286,571. The stock has a fifty day simple moving average of $21.42 and a 200-day simple moving average of $21.77. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 1.27 and a beta of 0.63. SK Telecom has a 52 week low of $19.84 and a 52 week high of $24.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, beating 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 firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. As a group, sell-side analysts predict that SK Telecom will post 2.27 earnings per share for the current year.

Hedge Funds Weigh In On SK Telecom

Institutional investors have recently modified their holdings of the company. Principal Securities Inc. boosted its stake in SK Telecom by 147.7% in the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider's stock worth $25,000 after buying an additional 721 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SK Telecom in the 1st quarter valued at $37,000. SVB Wealth LLC purchased a new stake in shares of SK Telecom in the 1st quarter valued at $42,000. Brooklyn Investment Group grew its holdings in shares of SK Telecom by 854.4% during the 1st quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider's stock valued at $49,000 after purchasing an additional 2,059 shares during the last quarter. Finally, Parallel Advisors LLC raised its position 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 worth $53,000 after purchasing an additional 884 shares during the period.

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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