SK Telecom (NYSE:SKM - Get Free Report) issued its quarterly earnings data on Wednesday. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.20), Zacks reports. The business had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.14 billion. SK Telecom had a net margin of 5.92% and a return on equity of 8.89%.
SK Telecom Price Performance
NYSE SKM opened at $22.45 on Friday. The company has a market capitalization of $8.84 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 11.97 and a beta of 0.63. The business's fifty day moving average is $22.26 and its 200 day moving average is $21.76. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86 and a current ratio of 0.88. SK Telecom has a fifty-two week low of $19.84 and a fifty-two week high of $24.58.
Hedge Funds Weigh In On SK Telecom
A number of large investors have recently made changes to their positions in SKM. Cubist Systematic Strategies LLC acquired a new position in shares of SK Telecom in the first quarter worth $85,000. Royal Bank of Canada boosted its stake in shares of SK Telecom by 8.2% during the 1st quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider's stock worth $936,000 after acquiring an additional 3,316 shares in the last quarter. Millennium Management LLC lifted its stake in shares of SK Telecom by 160.7% in the 1st quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider's stock valued at $4,823,000 after purchasing an additional 139,829 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of SK Telecom by 46.9% during the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider's stock valued at $5,531,000 after acquiring an additional 83,030 shares during the period.
Analysts Set New Price Targets
Several research firms have commented on SKM. Citigroup cut shares of SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. New Street Research raised SK Telecom to a "hold" rating in a research report on Monday, May 19th. The Goldman Sachs Group cut shares of SK Telecom from a "neutral" rating to a "sell" rating in a research note on Monday, July 7th. JPMorgan Chase & Co. lowered SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. Finally, Wall Street Zen lowered shares of SK Telecom from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, SK Telecom has an average rating of "Hold".
Read Our Latest Stock Report on SKM
About SK Telecom
(
Get Free Report)
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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