SK Telecom (NYSE:SKM) Raised to "Hold" at HSBC

Key Points

• HSBC upgraded SK Telecom from a "reduce" rating to a "hold" in a report issued Thursday.
• The analyst picture remains mixed — one Buy, four Hold and four Sell — and MarketBeat shows a consensus rating of "Reduce".
• SK Telecom posted Q1 EPS of $0.55 (above the $0.47 estimate) while revenue missed at $2.92B versus $2.98B, and shares traded down about 0.6% to $36.67.

SK Telecom (NYSE:SKM - Get Free Report) was upgraded by HSBC from a "reduce" rating to a "hold" rating in a report issued on Thursday, MarketBeat reports.

A number of other research firms have also issued reports on SKM. Citigroup lowered SK Telecom from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 18th. Bank of America lowered SK Telecom from a "neutral" rating to an "underperform" rating in a research report on Wednesday, February 18th. Wall Street Zen raised SK Telecom from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Weiss Ratings raised SK Telecom from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, March 12th. Finally, Zacks Research downgraded shares of SK Telecom from a "hold" rating to a "strong sell" rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, SK Telecom has a consensus rating of "Reduce".

SK Telecom Stock Down 0.6%

Shares of SKM traded down $0.21 during mid-day trading on Thursday, reaching $36.67. 1,098,019 shares of the stock traded hands, compared to its average volume of 1,745,278. The firm has a market cap of $14.07 billion, a price-to-earnings ratio of 53.96, a P/E/G ratio of 0.25 and a beta of 0.61. The stock has a fifty day simple moving average of $32.53 and a 200 day simple moving average of $26.12. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. SK Telecom has a 12-month low of $19.66 and a 12-month high of $40.49.

SK Telecom (NYSE:SKM - Get Free Report) last issued its earnings results on Friday, May 8th. The Wireless communications provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.47 by $0.08. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. SK Telecom had a return on equity of 3.21% and a net margin of 2.28%. Sell-side analysts expect that SK Telecom will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Several hedge funds have recently bought and sold shares of the business. Boston Common Asset Management LLC increased its position in 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 acquiring an additional 164,472 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in SK Telecom during the third quarter worth $1,415,000. North of South Capital LLP bought a new stake in SK Telecom in the 3rd quarter valued at $1,133,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of SK Telecom by 18.2% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 221,300 shares of the Wireless communications provider's stock valued at $4,543,000 after buying an additional 34,100 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of SK Telecom during the 3rd quarter valued at about $1,804,000.

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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