SK Telecom (NYSE:SKM) Earns Hold (C+) Rating from Weiss Ratings

Key Points

• SK Telecom's stock rating has been restated as "hold (C+)" by Weiss Ratings, while Goldman Sachs downgraded it from "neutral" to "sell".
• The company reported a miss on earnings for the last quarter, with EPS of $0.16 compared to the consensus estimate of $0.36.
• SK Telecom's stock currently has a market capitalization of $8.50 billion and a price-to-earnings ratio of 11.07, reflecting steady performance in the telecommunications sector.

SK Telecom (NYSE:SKM - Get Free Report)'s stock had its "hold (c+)" rating restated by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, The Goldman Sachs Group lowered SK Telecom from a "neutral" rating to a "sell" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, SK Telecom currently has a consensus rating of "Hold".

SK Telecom Price Performance

Shares of NYSE:SKM traded up $0.07 during trading on Wednesday, reaching $21.58. The stock had a trading volume of 296,949 shares, compared to its average volume of 351,014. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.01 and a current ratio of 1.03. The business has a fifty day moving average price of $21.96 and a 200-day moving average price of $21.82. The stock has a market cap of $8.50 billion, a PE ratio of 11.07, a PEG ratio of 10.96 and a beta of 0.58. SK Telecom has a 1-year low of $19.84 and a 1-year high of $24.34.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.20). The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates 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 forecast that SK Telecom will post 2.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in SK Telecom by 1,780.9% in the second quarter. Farther Finance Advisors LLC now owns 1,674 shares of the Wireless communications provider's stock valued at $39,000 after purchasing an additional 1,585 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in SK Telecom in the first quarter valued at $37,000. SVB Wealth LLC purchased a new stake in SK Telecom in the first quarter valued at $42,000. Hantz Financial Services Inc. raised its position in SK Telecom by 315.8% in the second quarter. Hantz Financial Services Inc. now owns 2,216 shares of the Wireless communications provider's stock valued at $52,000 after purchasing an additional 1,683 shares during the period. Finally, Brooklyn Investment Group raised its position in SK Telecom by 854.4% in the first 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 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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