SK Telecom (NYSE:SKM) Lowered to Sell Rating by The Goldman Sachs Group

SK Telecom (NYSE:SKM - Get Free Report) was downgraded by equities research analysts at The Goldman Sachs Group from a "neutral" rating to a "sell" rating in a research note issued to investors on Monday, Marketbeat reports.

SKM has been the subject of several other research reports. Citigroup lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. New Street Research raised shares of SK Telecom to a "hold" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. lowered shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. Finally, Wall Street Zen cut shares of SK Telecom from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

SK Telecom Trading Up 0.9%

Shares of SKM traded up $0.19 during mid-day trading on Monday, reaching $22.28. The stock had a trading volume of 297,410 shares, compared to its average volume of 318,864. 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 has a 52-week low of $19.84 and a 52-week high of $24.58. The business's fifty day moving average is $21.60 and its 200 day moving average is $21.61. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 10.72 and a beta of 0.64.

SK Telecom (NYSE:SKM - Get Free Report) last announced its earnings results 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. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. SK Telecom had a net margin of 7.31% and a return on equity of 10.98%. On average, sell-side analysts predict that SK Telecom will post 2.27 EPS for the current fiscal year.

Institutional Trading of SK Telecom

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new position in shares of SK Telecom during the fourth quarter worth approximately $232,000. Assetmark Inc. grew its position in shares of SK Telecom by 180.1% during the fourth quarter. Assetmark Inc. now owns 8,260 shares of the Wireless communications provider's stock worth $174,000 after acquiring an additional 5,311 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of SK Telecom during the fourth quarter worth approximately $1,879,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of SK Telecom during the fourth quarter worth approximately $238,000. Finally, Sequoia Financial Advisors LLC grew its position in shares of SK Telecom by 10.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 19,352 shares of the Wireless communications provider's stock worth $407,000 after acquiring an additional 1,860 shares during 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.