SK Telecom (NYSE:SKM) Cut to “Buy” at StockNews.com

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

SK Telecom Price Performance

Shares of NYSE:SKM opened at $21.39 on Friday. The business has a 50-day simple moving average of $21.98 and a two-hundred day simple moving average of $22.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 1.87 and a beta of 0.80. SK Telecom has a fifty-two week low of $19.88 and a fifty-two week high of $24.58.

SK Telecom (NYSE:SKM) last issued its earnings results on Wednesday, November 6th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter. The company had revenue of $3.35 billion for the quarter. SK Telecom had a net margin of 6.31% and a return on equity of 9.03%. On average, analysts expect that SK Telecom will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SKM. GAMMA Investing LLC raised its position in shares of SK Telecom by 27.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider’s stock valued at $53,000 after purchasing an additional 488 shares during the period. Matthews International Capital Management LLC boosted its holdings in shares of SK Telecom by 102.5% during the 4th quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider’s stock valued at $54,000 after purchasing an additional 1,291 shares during the last quarter. Assetmark Inc. lifted its position in shares of SK Telecom by 57.6% in the third quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock worth $70,000 after buying an additional 1,078 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in SK Telecom by 24.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the Wireless communications provider’s stock worth $75,000 after acquiring an additional 652 shares during the last quarter. Finally, Ariadne Wealth Management LP bought a new stake in SK Telecom in the second quarter worth $127,000.

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.