SK Telecom (NYSE:SKM) Hits New 52-Week High - Here's Why

Key Points

• Shares hit a new 52-week high, trading as high as $33.80 and last at $34.38 on volume of 53,238 shares, up from a prior close of $32.14.
• Analyst sentiment is mixed after several recent upgrades and downgrades — one Buy, four Hold and three Sell — leaving the stock with an overall average rating of "Reduce" on MarketBeat data.
• SK Telecom reported an EPS of $10.67 vs. $0.10 expected for the quarter (revenue $3.0B vs. $3.02B expected), has a market cap of $13.23 billion and a PE of 50.79, and saw notable institutional buying such as Boston Common increasing its stake by 83.1%.

Shares of SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $33.80 and last traded at $34.3810, with a volume of 53238 shares traded. The stock had previously closed at $32.14.

Analyst Ratings Changes

Several research firms recently weighed in on SKM. Daiwa Securities Group cut SK Telecom to a "hold" rating in a research note on Wednesday, January 14th. Wall Street Zen upgraded SK Telecom from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Weiss Ratings upgraded SK Telecom from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, March 12th. Zacks Research cut SK Telecom from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 27th. Finally, Citigroup cut SK Telecom from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce".

SK Telecom Stock Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.00. The stock has a 50 day simple moving average of $29.82 and a two-hundred day simple moving average of $24.03. The company has a market cap of $13.23 billion, a PE ratio of 50.79, a PEG ratio of 4.14 and a beta of 0.46.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The Wireless communications provider reported $10.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $10.57. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%.The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.02 billion. Equities analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current year.

Institutional Investors Weigh In On SK Telecom

Large investors have recently modified their holdings of the stock. Boston Common Asset Management LLC raised its stake in shares of SK Telecom by 83.1% during the fourth quarter. Boston Common Asset Management LLC now owns 362,424 shares of the Wireless communications provider's stock worth $7,441,000 after purchasing an additional 164,472 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of SK Telecom during the third quarter worth approximately $1,415,000. North of South Capital LLP purchased a new stake in shares of SK Telecom during the third quarter worth approximately $1,133,000. Caprock Group LLC purchased a new stake in shares of SK Telecom during the third quarter worth approximately $1,804,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of SK Telecom during the second quarter worth approximately $971,000.

About SK Telecom

SK Telecom Co, Ltd. NYSE: SKM is South Korea's largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.

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