SK Telecom (NYSE:SKM) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of SK Telecom (NYSE:SKM) from a strong-buy rating to a buy rating in a report released on Friday morning.

SK Telecom Stock Down 2.9 %

Shares of NYSE:SKM traded down $0.67 during trading on Friday, hitting $22.24. The company’s stock had a trading volume of 188,940 shares, compared to its average volume of 271,077. The company has a market capitalization of $9.82 billion, a PE ratio of 10.30, a P/E/G ratio of 2.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.98. SK Telecom has a fifty-two week low of $19.88 and a fifty-two week high of $24.58. The business has a 50 day moving average price of $23.34 and a two-hundred day moving average price of $22.12.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Tuesday, August 6th. The Wireless communications provider reported $0.63 earnings per share for the quarter. SK Telecom had a return on equity of 8.54% and a net margin of 6.31%. The company had revenue of $3.22 billion for the quarter. As a group, research analysts expect that SK Telecom will post 2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On SK Telecom

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in SK Telecom by 27.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock worth $53,000 after acquiring an additional 488 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of SK Telecom by 104.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the Wireless communications provider’s stock worth $55,000 after purchasing an additional 1,372 shares during the last quarter. Assetmark Inc. increased its position in shares of SK Telecom by 57.6% during the third quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock worth $70,000 after purchasing an additional 1,078 shares in the last quarter. Advisors Preferred LLC purchased a new stake in shares of SK Telecom in the 1st quarter valued at about $112,000. Finally, Ariadne Wealth Management LP purchased a new position in SK Telecom during the 2nd quarter worth approximately $127,000.

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.