SK Telecom Sees Unusually High Options Volume (NYSE:SKM)

Key Points

• SK Telecom saw unusually high options activity, with traders purchasing 12,372 call options—about 118% above the typical volume of 5,671.
• Shares rose $1.71 to $36.76, while the company’s latest quarterly results exceeded expectations, reporting $0.81 in EPS versus the $0.59 consensus and $3.06 billion in revenue versus $2.96 billion expected.
• Analyst sentiment has improved, with JPMorgan and Zacks upgrading the stock, although MarketBeat’s overall consensus rating remains “Hold.”

SK Telecom Co., Ltd. (NYSE:SKM - Get Free Report) was the target of unusually large options trading activity on Thursday. Traders purchased 12,372 call options on the company. This is an increase of approximately 118% compared to the typical volume of 5,671 call options.

SK Telecom Price Performance

Shares of SK Telecom stock traded up $1.71 on Thursday, hitting $36.76. The company's stock had a trading volume of 352,430 shares, compared to its average volume of 2,176,915. 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 has a 1 year low of $19.66 and a 1 year high of $47.18. The firm has a fifty day moving average price of $34.06 and a 200-day moving average price of $33.49. The company has a market capitalization of $14.10 billion, a price-to-earnings ratio of 29.38 and a beta of 0.64.

SK Telecom (NYSE:SKM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.22. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.96 billion. SK Telecom had a return on equity of 5.59% and a net margin of 4.23%. As a group, sell-side analysts anticipate that SK Telecom will post 2.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SKM shares. JPMorgan Chase & Co. raised shares of SK Telecom from a "neutral" rating to an "overweight" rating in a report on Thursday, July 16th. Zacks Research upgraded SK Telecom from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. HSBC raised SK Telecom from a "reduce" rating to a "hold" rating in a report on Thursday, May 7th. Wall Street Zen upgraded SK Telecom from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Finally, Weiss Ratings downgraded SK Telecom from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, SK Telecom currently has a consensus rating of "Hold".

Institutional Investors Weigh In On SK Telecom

Institutional investors have recently added to or reduced their stakes in the stock. Gradient Investments LLC raised its position in SK Telecom by 1.1% during the second quarter. Gradient Investments LLC now owns 190,819 shares of the Wireless communications provider's stock worth $6,137,000 after acquiring an additional 2,038 shares during the period. Foster Group Inc. acquired a new stake in shares of SK Telecom in the second quarter valued at about $234,000. GAMMA Investing LLC increased its stake in shares of SK Telecom by 26.9% during the second quarter. GAMMA Investing LLC now owns 7,202 shares of the Wireless communications provider's stock worth $232,000 after purchasing an additional 1,526 shares in the last quarter. Wealth High Governance Capital Ltda acquired a new position in shares of SK Telecom during the 1st quarter worth about $7,740,000. Finally, Wealth High Governance Asset Management Ltda. purchased a new position in SK Telecom in the 1st quarter valued at about $6,577,000.

About SK Telecom

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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