SK Telecom (NYSE:SKM) Stock Rating Lowered by StockNews.com

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

SK Telecom Stock Up 0.2 %

Shares of SKM stock opened at $21.39 on Friday. SK Telecom has a twelve month low of $19.88 and a twelve month high of $24.58. The stock has a market cap of $8.43 billion, a P/E ratio of 9.90, a P/E/G ratio of 1.87 and a beta of 0.80. The stock has a 50 day moving average of $21.98 and a 200 day moving average of $22.52. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48.

SK Telecom (NYSE:SKM) last posted its earnings results on Wednesday, November 6th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter. The firm had revenue of $3.35 billion during the quarter. SK Telecom had a net margin of 6.31% and a return on equity of 9.03%. As a group, sell-side analysts expect that SK Telecom will post 1.96 EPS for the current year.

Institutional Investors Weigh In On SK Telecom

A number of institutional investors have recently modified their holdings of SKM. GAMMA Investing LLC boosted its position in SK Telecom by 27.8% during the third quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock worth $53,000 after purchasing an additional 488 shares in the last quarter. Matthews International Capital Management LLC lifted its position in shares of SK Telecom by 102.5% during the 4th quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider’s stock valued at $54,000 after buying an additional 1,291 shares in the last quarter. Assetmark Inc. grew its stake in SK Telecom by 57.6% in the 3rd quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock valued at $70,000 after acquiring an additional 1,078 shares during the period. EverSource Wealth Advisors LLC increased its holdings in SK Telecom by 24.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the Wireless communications provider’s stock worth $75,000 after acquiring an additional 652 shares in the last quarter. Finally, Ariadne Wealth Management LP acquired a new position in SK Telecom during the second quarter worth $127,000.

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.