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

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

Other research analysts have also issued research reports about the stock. Citigroup lowered shares of SK Telecom from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Wall Street Zen downgraded shares of SK Telecom from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. downgraded shares of SK Telecom from an "overweight" rating to a "neutral" rating in a research note on Monday, May 12th. Finally, New Street Research upgraded shares of SK Telecom to a "hold" rating in a research note on Monday, May 19th. One 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.com, the company has an average rating of "Hold".

SK Telecom Price Performance

NYSE SKM traded up $0.32 on Monday, reaching $22.07. The company's stock had a trading volume of 596,933 shares, compared to its average volume of 318,698. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86 and a current ratio of 0.88. SK Telecom has a twelve month low of $19.84 and a twelve month high of $24.58. The stock has a market cap of $8.69 billion, a PE ratio of 9.12, a PEG ratio of 2.28 and a beta of 0.64. The firm's 50 day moving average is $21.57 and its two-hundred day moving average is $21.60.

SK Telecom (NYSE:SKM - Get Free Report) last issued its earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. SK Telecom had a return on equity of 10.98% and a net margin of 7.31%. The business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.12 billion. As a group, sell-side analysts predict that SK Telecom will post 2.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. raised its holdings in shares of SK Telecom by 2.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 3,018,570 shares of the Wireless communications provider's stock valued at $64,175,000 after buying an additional 80,042 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in SK Telecom by 9.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,595,390 shares of the Wireless communications provider's stock worth $33,567,000 after acquiring an additional 133,742 shares in the last quarter. Citigroup Inc. grew its position in shares of SK Telecom by 55.5% in the 1st quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider's stock valued at $25,572,000 after purchasing an additional 429,434 shares during the period. Allspring Global Investments Holdings LLC increased its stake in SK Telecom by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,062,667 shares of the Wireless communications provider's stock worth $22,518,000 after purchasing an additional 17,718 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its stake in SK Telecom by 543.6% during the 1st quarter. Great Lakes Advisors LLC now owns 593,312 shares of the Wireless communications provider's stock worth $12,614,000 after purchasing an additional 501,125 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.