SK Telecom (NYSE:SKM – Get Free Report) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.
A number of other equities analysts have also recently issued reports on SKM. Weiss Ratings upgraded SK Telecom from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen lowered SK Telecom from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, SK Telecom has a consensus rating of “Hold”.
Check Out Our Latest Report on SK Telecom
SK Telecom Stock Up 3.6%
SKM stock opened at $34.29 on Tuesday. The firm has a market cap of $13.16 billion, a PE ratio of 12.38 and a beta of 0.78. SK Telecom has a 12 month low of $19.66 and a 12 month high of $47.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $34.20 and a 200 day simple moving average of $34.09.
SK Telecom (NYSE:SKM – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The Wireless communications provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.07. SK Telecom had a return on equity of 9.26% and a net margin of 7.49%. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. Equities research analysts forecast that SK Telecom will post 3.90 earnings per share for the current fiscal year.
Institutional Trading of SK Telecom
A number of hedge funds have recently modified their holdings of SKM. Advisors Asset Management Inc. acquired a new position in SK Telecom during the third quarter valued at $311,000. Private Advisor Group LLC purchased a new stake in SK Telecom in the 3rd quarter worth about $332,000. Ieq Capital LLC boosted its position in SK Telecom by 3.6% during the 3rd quarter. Ieq Capital LLC now owns 60,620 shares of the Wireless communications provider’s stock worth $2,116,000 after acquiring an additional 2,125 shares during the period. Composition Wealth LLC boosted its position in SK Telecom by 10.7% during the 3rd quarter. Composition Wealth LLC now owns 16,164 shares of the Wireless communications provider’s stock worth $564,000 after acquiring an additional 1,563 shares during the period. Finally, Cibc World Market Inc. boosted its position in SK Telecom by 20.8% during the 3rd quarter. Cibc World Market Inc. now owns 410,705 shares of the Wireless communications provider’s stock worth $14,338,000 after acquiring an additional 70,854 shares during the period.
SK Telecom Company Profile
SK Telecom is a South Korean telecommunications company that provides mobile voice and data services, including 5G connectivity, to consumers and businesses. Its offerings also include internet of things and enterprise connectivity solutions. Through its subsidiary SK Broadband, the company provides fixed-line broadband and IPTV services, including its B tv platform. SK Telecom is also developing artificial intelligence services and infrastructure, alongside data center and cloud-related offerings.
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