SK Telecom (NYSE:SKM) Raised to "Hold" at New Street Research

New Street Research upgraded shares of SK Telecom (NYSE:SKM - Free Report) to a hold rating in a research report report published on Monday, May 19th,Zacks.com reports.

A number of other brokerages also recently weighed in on SKM. JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. Wall Street Zen cut shares of SK Telecom from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 8th. Citigroup lowered SK Telecom from a "buy" rating to a "neutral" rating in a research report on Tuesday, May 6th. UBS Group initiated coverage on shares of SK Telecom in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. Finally, The Goldman Sachs Group lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, SK Telecom currently has a consensus rating of "Hold".

SK Telecom Price Performance

SK Telecom stock traded up $0.18 during mid-day trading on Monday, hitting $20.55. 345,605 shares of the company were exchanged, compared to its average volume of 287,861. The company has a market capitalization of $8.09 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.63. The business has a fifty day moving average of $21.37 and a 200 day moving average of $21.72. SK Telecom has a 1-year low of $19.84 and a 1-year high of $24.58. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. As a group, sell-side analysts expect that SK Telecom will post 2.27 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its position in shares of SK Telecom by 30.8% in the fourth quarter. Rhumbline Advisers now owns 87,146 shares of the Wireless communications provider's stock valued at $1,834,000 after buying an additional 20,506 shares in the last quarter. JPMorgan Chase & Co. increased its stake in SK Telecom by 2,337.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,748 shares of the Wireless communications provider's stock worth $422,000 after acquiring an additional 17,020 shares during the period. US Bancorp DE raised its holdings in SK Telecom by 27.8% in the 4th quarter. US Bancorp DE now owns 93,295 shares of the Wireless communications provider's stock valued at $1,963,000 after acquiring an additional 20,285 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of SK Telecom by 130.8% during the 4th quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider's stock valued at $158,000 after acquiring an additional 4,265 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of SK Telecom by 51.2% during the 4th quarter. Blue Trust Inc. now owns 65,823 shares of the Wireless communications provider's stock worth $1,385,000 after purchasing an additional 22,281 shares in 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.