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SK Telecom (NYSE:SKM) Shares Gap Down - Should You Sell?

SK Telecom logo with Computer and Technology background

SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $23.58, but opened at $21.88. SK Telecom shares last traded at $21.92, with a volume of 59,639 shares trading hands.

Wall Street Analyst Weigh In

SKM has been the subject of a number of research analyst reports. New Street Research raised SK Telecom to a "hold" rating in a report on Monday, May 19th. Citigroup cut SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. cut SK Telecom from an "overweight" rating to a "neutral" rating in a report on Monday, May 12th. The Goldman Sachs Group downgraded shares of SK Telecom from a "neutral" rating to a "sell" rating in a research note on Monday. Finally, Wall Street Zen downgraded shares of SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".

Read Our Latest Stock Analysis on SK Telecom

SK Telecom Stock Performance

The stock's 50-day moving average is $21.59 and its 200-day moving average is $21.60. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 2.28 and a beta of 0.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.86.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. SK Telecom had a net margin of 7.31% and a return on equity of 10.98%. Analysts anticipate that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SK Telecom in the first quarter worth $37,000. SVB Wealth LLC bought a new stake in SK Telecom during the 1st quarter worth about $42,000. Brooklyn Investment Group boosted its stake in shares of SK Telecom by 854.4% in the 1st quarter. Brooklyn Investment Group now owns 2,300 shares of the Wireless communications provider's stock valued at $49,000 after purchasing an additional 2,059 shares during the last quarter. Parallel Advisors LLC boosted its stake in SK Telecom by 55.0% during the 1st quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock worth $53,000 after acquiring an additional 884 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in SK Telecom during the 1st quarter worth approximately $85,000.

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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