SK Telecom (NYSE:SKM) Downgraded by StockNews.com to “Buy”

SK Telecom (NYSE:SKM) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other equities analysts also recently commented on the stock. Nomura upgraded shares of SK Telecom from a “reduce” rating to a “neutral” rating in a research report on Wednesday, May 8th. Nomura Securities upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 8th.

SK Telecom Price Performance

NYSE:SKM traded down $0.01 during trading hours on Tuesday, reaching $21.07. 340,826 shares of the company’s stock were exchanged, compared to its average volume of 293,128. The company has a 50-day moving average of $20.91 and a 200 day moving average of $21.18. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.60. SK Telecom has a 1-year low of $18.52 and a 1-year high of $22.71.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Wednesday, May 8th. The Wireless communications provider reported $0.68 earnings per share for the quarter. The firm had revenue of $3.36 billion during the quarter. SK Telecom had a net margin of 6.53% and a return on equity of 8.97%. On average, sell-side analysts predict that SK Telecom will post 2.13 earnings per share for the current year.

Institutional Trading of SK Telecom

Several hedge funds and other institutional investors have recently made changes to their positions in SKM. CWM LLC lifted its stake in shares of SK Telecom by 3,900.0% in the fourth quarter. CWM LLC now owns 1,160 shares of the Wireless communications provider’s stock valued at $25,000 after purchasing an additional 1,131 shares during the period. Assetmark Inc. acquired a new stake in shares of SK Telecom in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of SK Telecom by 1,558.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the Wireless communications provider’s stock valued at $28,000 after purchasing an additional 1,231 shares during the period. GAMMA Investing LLC acquired a new stake in shares of SK Telecom in the fourth quarter valued at about $29,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of SK Telecom by 116.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,342 shares of the Wireless communications provider’s stock valued at $72,000 after purchasing an additional 1,798 shares during the period.

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.