SK Telecom (NYSE:SKM) Shares Gap Up – Should You Buy?

SK Telecom Co., Ltd. (NYSE:SKM)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $20.99, but opened at $23.10. SK Telecom shares last traded at $23.1230, with a volume of 245,991 shares.

Wall Street Analyst Weigh In

SKM has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SK Telecom in a research report on Monday, December 29th. Daiwa Capital Markets downgraded shares of SK Telecom to a “hold” rating in a report on Wednesday, January 14th. Wall Street Zen cut shares of SK Telecom from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research upgraded SK Telecom from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SK Telecom presently has a consensus rating of “Hold”.

SK Telecom Price Performance

The company has a 50 day moving average of $20.29 and a 200 day moving average of $21.24. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 34.62, a P/E/G ratio of 0.67 and a beta of 0.49. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68.

SK Telecom (NYSE:SKM) last released its quarterly earnings results on Friday, December 12th. The Wireless communications provider reported ($0.29) earnings per share for the quarter. SK Telecom had a net margin of 3.60% and a return on equity of 5.30%. Equities research analysts predict that SK Telecom Co., Ltd. will post 2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SKM. Royal Bank of Canada boosted its position in SK Telecom by 8.2% during the 1st quarter. Royal Bank of Canada now owns 43,999 shares of the Wireless communications provider’s stock valued at $936,000 after acquiring an additional 3,316 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of SK Telecom in the 1st quarter worth approximately $85,000. Millennium Management LLC boosted its stake in shares of SK Telecom by 160.7% during the first quarter. Millennium Management LLC now owns 226,848 shares of the Wireless communications provider’s stock valued at $4,823,000 after purchasing an additional 139,829 shares during the period. Goldman Sachs Group Inc. grew its holdings in SK Telecom by 46.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 260,140 shares of the Wireless communications provider’s stock worth $5,531,000 after acquiring an additional 83,030 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in SK Telecom during the 2nd quarter valued at about $313,000.

About SK Telecom

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.