SK Telecom (NYSE:SKM) Downgraded by The Goldman Sachs Group to “Neutral”

The Goldman Sachs Group lowered shares of SK Telecom (NYSE:SKM) from a buy rating to a neutral rating in a research report released on Monday, MarketBeat reports.

A number of other equities research analysts also recently weighed in on SKM. StockNews.com raised SK Telecom from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 1st. UBS Group initiated coverage on SK Telecom in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

SK Telecom Trading Down 1.1 %

SK Telecom stock opened at $21.66 on Monday. 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 business’s 50-day simple moving average is $21.60 and its 200-day simple moving average is $22.54. The firm has a market capitalization of $8.53 billion, a PE ratio of 8.84, a PEG ratio of 1.27 and a beta of 0.80. SK Telecom has a 52 week low of $19.88 and a 52 week high of $24.58.

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

Institutional Investors Weigh In On SK Telecom

Several large investors have recently modified their holdings of SKM. Robeco Institutional Asset Management B.V. grew its stake in shares of SK Telecom by 24.8% in the 4th 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 period. BNP Paribas Financial Markets bought a new stake in shares of SK Telecom in the 4th quarter valued at approximately $10,712,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of SK Telecom in the 3rd quarter valued at approximately $4,227,000. Arrowstreet Capital Limited Partnership grew its stake in shares of SK Telecom by 9.2% in the 4th 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 period. Finally, Raymond James Financial Inc. bought a new stake in shares of SK Telecom in the 4th 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.