SK Telecom (NYSE:SKM) Announces Earnings Results, Beats Expectations By $0.04 EPS

SK Telecom (NYSE:SKM - Get Free Report) posted its quarterly earnings data on Monday. The Wireless communications provider reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.04, Zacks reports. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%.

SK Telecom Price Performance

SKM stock traded up $0.26 during midday trading on Friday, hitting $20.58. 621,299 shares of the stock were exchanged, compared to its average volume of 286,239. The stock's 50-day moving average price is $21.47 and its 200-day moving average price is $21.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 1.27 and a beta of 0.63. SK Telecom has a fifty-two week low of $19.84 and a fifty-two week high of $24.58.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. StockNews.com cut SK Telecom from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 8th. UBS Group began coverage on SK Telecom in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. Finally, The Goldman Sachs Group lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, SK Telecom has an average rating of "Hold".

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SKM. Millennium Management LLC grew its stake in 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 acquiring an additional 139,829 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of SK Telecom by 46.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider's stock worth $5,531,000 after purchasing an additional 83,030 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of SK Telecom during the 1st quarter worth approximately $85,000. Finally, Royal Bank of Canada raised its position 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 purchasing an additional 3,316 shares during the last quarter.

About SK Telecom

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.