SK Telecom (NYSE:SKM) Upgraded by New Street Research to Hold Rating

SK Telecom (NYSE:SKM - Get Free Report) was upgraded by stock analysts at New Street Research to a "hold" rating in a report issued on Monday,Zacks.com reports.

SKM has been the topic of a number of other reports. UBS Group assumed coverage on shares of SK Telecom in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. JPMorgan Chase & Co. cut shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. Citigroup cut SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. StockNews.com cut SK Telecom from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group cut SK Telecom from a "buy" rating to a "neutral" rating in a research note on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, SK Telecom currently has an average rating of "Hold".

SK Telecom Stock Performance

SK Telecom stock traded up $0.15 during mid-day trading on Monday, reaching $20.69. The company's stock had a trading volume of 36,358 shares, compared to its average volume of 285,568. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.27 and a beta of 0.63. The business has a 50 day moving average price of $21.43 and a 200-day moving average price of $21.78. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. SK Telecom has a twelve month low of $19.84 and a twelve month high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.65 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.12 billion. Sell-side analysts predict that SK Telecom will post 2.27 EPS for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

Several large investors have recently made changes to their positions in SKM. Integrated Wealth Concepts LLC lifted its holdings in shares of SK Telecom by 3.6% during the fourth quarter. Integrated Wealth Concepts LLC now owns 13,465 shares of the Wireless communications provider's stock worth $283,000 after buying an additional 472 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of SK Telecom by 0.8% during the fourth quarter. Vident Advisory LLC now owns 73,815 shares of the Wireless communications provider's stock worth $1,553,000 after buying an additional 610 shares during the last quarter. Principal Securities Inc. increased its position in shares of SK Telecom by 147.7% during the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider's stock valued at $25,000 after purchasing an additional 721 shares during the period. Quadrant Capital Group LLC increased its position in shares of SK Telecom by 15.2% during the fourth quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider's stock valued at $122,000 after purchasing an additional 764 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of SK Telecom by 55.0% during the first quarter. Parallel Advisors LLC now owns 2,490 shares of the Wireless communications provider's stock valued at $53,000 after purchasing an additional 884 shares during the period.

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.

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