SK Telecom (NYSE:SKM) Upgraded at StockNews.com

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

SK Telecom Stock Performance

SKM opened at $21.33 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88. The company has a market capitalization of $8.40 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.93 and a beta of 0.80. The business has a fifty day simple moving average of $21.92 and a 200 day simple moving average of $22.53. SK Telecom has a 1 year low of $19.88 and a 1 year high of $24.58.

SK Telecom (NYSE:SKM) last announced its earnings results on Wednesday, November 6th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter. SK Telecom had a net margin of 6.31% and a return on equity of 9.03%. The company had revenue of $3.35 billion during the quarter. Research analysts expect that SK Telecom will post 2.05 EPS for the current year.

Institutional Investors Weigh In On SK Telecom

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of SK Telecom by 64.2% during the second quarter. Dimensional Fund Advisors LP now owns 62,780 shares of the Wireless communications provider’s stock worth $1,314,000 after buying an additional 24,538 shares during the last quarter. AQR Capital Management LLC bought a new stake in SK Telecom during the 2nd quarter worth $1,570,000. Millennium Management LLC increased its holdings in SK Telecom by 37.5% in the 2nd quarter. Millennium Management LLC now owns 158,866 shares of the Wireless communications provider’s stock worth $3,325,000 after purchasing an additional 43,327 shares in the last quarter. Sanctuary Advisors LLC bought a new position in SK Telecom in the second quarter valued at about $469,000. Finally, GAMMA Investing LLC boosted its stake in shares of SK Telecom by 27.8% during the third quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock valued at $53,000 after purchasing an additional 488 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.