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

SK Telecom (NYSE:SKM) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other analysts have also recently weighed in on SKM. UBS Group began coverage on shares of SK Telecom in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. The Goldman Sachs Group cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SK Telecom has an average rating of “Hold”.

SK Telecom Stock Down 0.1 %

Shares of SKM opened at $21.47 on Wednesday. The stock has a market capitalization of $8.45 billion, a PE ratio of 8.76, a P/E/G ratio of 1.27 and a beta of 0.77. SK Telecom has a 1 year low of $19.88 and a 1 year high of $24.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91. The company’s 50-day simple moving average is $21.62 and its 200-day simple moving average is $22.46.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. Analysts forecast that SK Telecom will post 2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Several hedge funds have recently added to or reduced their stakes in SKM. Robeco Institutional Asset Management B.V. increased its stake in SK Telecom by 24.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock valued at $61,827,000 after purchasing an additional 583,519 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in SK Telecom in the fourth quarter valued at approximately $10,712,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in SK Telecom in the third quarter valued at approximately $4,227,000. Arrowstreet Capital Limited Partnership increased its stake in SK Telecom by 9.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,595,390 shares of the Wireless communications provider’s stock valued at $33,567,000 after purchasing an additional 133,742 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in SK Telecom in the fourth quarter valued at approximately $1,879,000.

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.