SK Telecom (NYSE:SKM) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of SK Telecom (NYSE:SKM) from an overweight rating to a neutral rating in a research report released on Monday morning, MarketBeat reports.

Several other analysts have also issued reports on SKM. The Goldman Sachs Group lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Citigroup lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. UBS Group started coverage on shares of SK Telecom in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, StockNews.com downgraded shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

SK Telecom Stock Down 0.1%

NYSE:SKM opened at $20.15 on Monday. The firm has a market capitalization of $7.94 billion, a P/E ratio of 8.22, a PEG ratio of 1.27 and a beta of 0.63. SK Telecom has a 1-year low of $19.84 and a 1-year high of $24.58. The company’s fifty day moving average price is $21.50 and its 200-day moving average price is $21.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. As a group, equities research analysts anticipate that SK Telecom will post 2.27 EPS for the current year.

Hedge Funds Weigh In On SK Telecom

Several hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC lifted its stake in shares of SK Telecom by 3.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 13,465 shares of the Wireless communications provider’s stock worth $283,000 after buying an additional 472 shares in the last quarter. Vident Advisory LLC raised its stake in SK Telecom by 0.8% during the fourth quarter. Vident Advisory LLC now owns 73,815 shares of the Wireless communications provider’s stock worth $1,553,000 after purchasing an additional 610 shares during the period. Principal Securities Inc. raised its stake in SK Telecom by 147.7% during the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider’s stock worth $25,000 after purchasing an additional 721 shares during the period. Quadrant Capital Group LLC raised its stake in SK Telecom by 15.2% during the fourth quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider’s stock worth $122,000 after purchasing an additional 764 shares during the period. Finally, GAMMA Investing LLC raised its stake in SK Telecom by 34.4% during the fourth quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock worth $64,000 after purchasing an additional 773 shares during the period.

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.