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

SK Telecom (NYSE:SKM - Get Free Report) was downgraded by 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.com reports.

A number of other analysts also recently commented on SKM. New Street Research upgraded SK Telecom to a "hold" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. downgraded SK Telecom from an "overweight" rating to a "neutral" rating in a research report on Monday, May 12th. Wall Street Zen downgraded SK Telecom from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Citigroup cut SK Telecom from a "buy" rating to a "neutral" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold".

SK Telecom Price Performance

Shares of SK Telecom stock traded up $0.03 during trading on Monday, reaching $22.09. The company's stock had a trading volume of 473,225 shares, compared to its average volume of 318,950. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. SK Telecom has a 12-month low of $19.84 and a 12-month high of $24.58. The company has a market capitalization of $8.70 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 10.72 and a beta of 0.64. The business has a 50 day moving average price of $21.60 and a 200-day moving average price of $21.61.

SK Telecom (NYSE:SKM - Get Free Report) last posted its earnings results 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. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. SK Telecom had a return on equity of 10.98% and a net margin of 7.31%. As a group, sell-side analysts anticipate that SK Telecom will post 2.27 EPS for the current year.

Hedge Funds Weigh In On SK Telecom

A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its holdings in shares of SK Telecom by 540.8% in the second quarter. Parallel Advisors LLC now owns 15,955 shares of the Wireless communications provider's stock worth $373,000 after acquiring an additional 13,465 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of SK Telecom by 46.9% in the first quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider's stock worth $5,531,000 after acquiring an additional 83,030 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of SK Telecom by 8.6% in the first quarter. Rhumbline Advisers now owns 94,631 shares of the Wireless communications provider's stock worth $2,012,000 after acquiring an additional 7,485 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in shares of SK Telecom by 543.6% in the first quarter. Great Lakes Advisors LLC now owns 593,312 shares of the Wireless communications provider's stock worth $12,614,000 after acquiring an additional 501,125 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of SK Telecom by 160.7% in the first quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider's stock worth $4,823,000 after acquiring an additional 139,829 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.