SK Telecom (NYSE:SKM) Rating Increased to Neutral at Nomura

Nomura upgraded shares of SK Telecom (NYSE:SKM) from a reduce rating to a neutral rating in a report issued on Wednesday, Marketbeat Ratings reports.

Separately, StockNews.com lowered SK Telecom from a strong-buy rating to a buy rating in a research note on Friday, May 3rd.

SK Telecom Price Performance

SKM stock traded up $0.47 during trading on Wednesday, reaching $21.26. 393,459 shares of the company were exchanged, compared to its average volume of 305,360. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 4.49 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.94 and a quick ratio of 0.92. The company has a 50-day moving average of $21.24 and a two-hundred day moving average of $21.27. SK Telecom has a twelve month low of $18.52 and a twelve month high of $22.71.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Monday, April 29th. The Wireless communications provider reported $0.34 earnings per share (EPS) for the quarter. SK Telecom had a net margin of 6.22% and a return on equity of 8.62%. The company had revenue of $3.43 billion during the quarter. As a group, equities analysts predict that SK Telecom will post 2.05 earnings per share for the current fiscal year.

Institutional Trading of SK Telecom

Institutional investors have recently modified their holdings of the business. Ramirez Asset Management Inc. acquired a new position in SK Telecom during the 3rd quarter worth about $8,165,000. Meritage Portfolio Management acquired a new position in shares of SK Telecom in the first quarter worth approximately $2,691,000. Envestnet Asset Management Inc. boosted its holdings in SK Telecom by 26.6% in the third quarter. Envestnet Asset Management Inc. now owns 304,426 shares of the Wireless communications provider’s stock valued at $6,533,000 after acquiring an additional 63,913 shares during the last quarter. DGS Capital Management LLC increased its position in SK Telecom by 63.6% during the 1st quarter. DGS Capital Management LLC now owns 155,930 shares of the Wireless communications provider’s stock valued at $3,362,000 after purchasing an additional 60,591 shares during the period. Finally, LSV Asset Management raised its holdings in SK Telecom by 15.3% during the 4th quarter. LSV Asset Management now owns 415,831 shares of the Wireless communications provider’s stock worth $8,899,000 after purchasing an additional 55,270 shares during the last quarter.

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.