SK Telecom (NYSE:SKM) Rating Lowered to Buy at StockNews.com

SK Telecom (NYSE:SKM) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

Other analysts also recently issued research reports about the stock. Nomura raised shares of SK Telecom from a “reduce” rating to a “neutral” rating in a research report on Wednesday, May 8th. Nomura Securities raised shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 8th.

SK Telecom Stock Performance

NYSE:SKM opened at $20.82 on Friday. The company has a 50 day simple moving average of $20.99 and a two-hundred day simple moving average of $21.16. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.98 and a quick ratio of 0.95. SK Telecom has a fifty-two week low of $18.52 and a fifty-two week high of $22.71.

SK Telecom (NYSE:SKM) last released its earnings results on Wednesday, May 8th. The Wireless communications provider reported $0.68 earnings per share for the quarter. The business had revenue of $3.36 billion during the quarter. SK Telecom had a net margin of 6.53% and a return on equity of 8.97%. On average, analysts forecast that SK Telecom will post 2.13 earnings per share for the current year.

Institutional Trading of SK Telecom

Several large investors have recently modified their holdings of SKM. Natixis Advisors L.P. grew its position in SK Telecom by 9.9% in the 3rd quarter. Natixis Advisors L.P. now owns 42,815 shares of the Wireless communications provider’s stock valued at $919,000 after purchasing an additional 3,864 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in SK Telecom in the 3rd quarter valued at $953,000. Scotia Capital Inc. grew its position in SK Telecom by 7.2% in the 3rd quarter. Scotia Capital Inc. now owns 31,290 shares of the Wireless communications provider’s stock valued at $672,000 after purchasing an additional 2,105 shares during the period. Etesian Wealth Advisors Inc. grew its position in SK Telecom by 2.3% in the 4th quarter. Etesian Wealth Advisors Inc. now owns 26,115 shares of the Wireless communications provider’s stock valued at $560,000 after purchasing an additional 576 shares during the period. Finally, Schechter Investment Advisors LLC acquired a new stake in SK Telecom in the 4th quarter valued at $256,000.

SK Telecom Company Profile

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.