SK Telecom (NYSE:SKM – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.
A number of other research analysts have also weighed in on SKM. Wall Street Zen raised SK Telecom from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. Finally, Weiss Ratings raised shares of SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.
Get Our Latest Stock Report on SK Telecom
SK Telecom Stock Performance
SK Telecom (NYSE:SKM – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The Wireless communications provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.22. SK Telecom had a return on equity of 5.30% and a net margin of 4.23%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.96 billion. As a group, sell-side analysts anticipate that SK Telecom will post 2.21 EPS for the current year.
Hedge Funds Weigh In On SK Telecom
Several large investors have recently made changes to their positions in SKM. Tidal Investments LLC purchased a new stake in shares of SK Telecom in the second quarter worth $42,869,000. BlueCrest Capital Management Ltd purchased a new position in SK Telecom in the 2nd quarter worth approximately $24,120,000. ABN Amro Investment Solutions lifted its position in SK Telecom by 136.8% in the 1st quarter. ABN Amro Investment Solutions now owns 568,343 shares of the Wireless communications provider’s stock valued at $16,647,000 after acquiring an additional 328,300 shares in the last quarter. Nykredit A S bought a new position in shares of SK Telecom during the second quarter valued at $14,475,000. Finally, Baird Financial Group Inc. bought a new stake in SK Telecom in the 2nd quarter worth about $14,459,000.
About SK Telecom
SK Telecom Co, Ltd. is a South Korean telecommunications company and a member of the SK Group. Headquartered in Seoul, the company provides mobile communications services, including voice, messaging, wireless data, 5G connectivity and related subscription services, primarily in South Korea.
Through its affiliates and business operations, SK Telecom also offers fixed-line broadband internet, internet protocol television and media services. Its enterprise portfolio includes cloud computing, data center services, information and communication technology solutions, artificial intelligence and Internet of Things services for businesses and public-sector customers.
The company traces its origins to Korea Mobile Telecommunications, established in 1984, and adopted the SK Telecom name in 1998 following its incorporation into the SK Group.
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