SK Telecom (NYSE:SKM) Sees Strong Trading Volume - What's Next?

Key Points

• Shares of SK Telecom (NYSE:SKM) saw unusually high trading volume, with about 1.33 million shares changing hands intraday, though that was still below the prior session’s volume.
• Analyst sentiment remains cautious overall: recent rating changes included upgrades to Hold from Zacks Research and HSBC, while Weiss Ratings downgraded the stock; MarketBeat shows an average rating of Reduce.
• In its latest quarterly report, SK Telecom beat earnings expectations with EPS of $0.57 versus $0.47 expected, but revenue came in slightly below forecasts at $2.92 billion.

Shares of SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 1,334,979 shares were traded during mid-day trading, a decline of 37% from the previous session's volume of 2,111,023 shares.The stock last traded at $32.9630 and had previously closed at $32.32.

Analyst Ratings Changes

SKM has been the subject of a number of research analyst reports. Zacks Research upgraded shares of SK Telecom from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 26th. HSBC upgraded shares of SK Telecom from a "reduce" rating to a "hold" rating in a research note on Thursday, May 7th. Weiss Ratings lowered shares of SK Telecom from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen raised shares of SK Telecom from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Reduce".

SK Telecom Price Performance

The stock has a market capitalization of $12.60 billion, a PE ratio of 54.61, a price-to-earnings-growth ratio of 0.19 and a beta of 0.63. The business's 50-day moving average price is $36.88 and its 200 day moving average price is $31.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The firm had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. Research analysts forecast that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in SK Telecom during the 4th quarter valued at about $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of SK Telecom in the 4th quarter worth approximately $30,000. Allworth Financial LP increased its stake in shares of SK Telecom by 138.2% during the third quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider's stock valued at $37,000 after buying an additional 987 shares during the period. Wexford Capital LP purchased a new position in shares of SK Telecom during the third quarter valued at approximately $39,000. Finally, Matthews International Capital Management LLC raised its holdings in shares of SK Telecom by 50.4% during the fourth quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider's stock valued at $51,000 after acquiring an additional 835 shares in the last quarter.

SK Telecom Company Profile

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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