SK Telecom (NYSE:SKM) Upgraded by StockNews.com to “Strong-Buy” Rating

SK Telecom (NYSE:SKM) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

SKM has been the topic of a number of other research reports. The Goldman Sachs Group cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. UBS Group initiated coverage on shares of SK Telecom in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

SK Telecom Stock Performance

Shares of SKM stock opened at $21.19 on Wednesday. The company has a market cap of $8.35 billion, a P/E ratio of 8.65, a PEG ratio of 1.27 and a beta of 0.71. The business has a 50 day moving average of $21.58 and a two-hundred day moving average of $22.08. SK Telecom has a 52 week low of $19.88 and a 52 week high of $24.58. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Wednesday, February 12th. The Wireless communications provider reported $0.63 earnings per share (EPS) for the quarter. SK Telecom had a return on equity of 10.39% and a net margin of 7.26%. As a group, analysts anticipate that SK Telecom will post 2.27 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SKM. Integrated Wealth Concepts LLC lifted its holdings in SK Telecom by 3.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 13,465 shares of the Wireless communications provider’s stock worth $283,000 after purchasing an additional 472 shares during the period. Vident Advisory LLC raised its position in shares of SK Telecom by 0.8% during the 4th quarter. Vident Advisory LLC now owns 73,815 shares of the Wireless communications provider’s stock worth $1,553,000 after buying an additional 610 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of SK Telecom by 147.7% in the fourth quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider’s stock valued at $25,000 after acquiring an additional 721 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of SK Telecom by 15.2% during the fourth quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider’s stock valued at $122,000 after acquiring an additional 764 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of SK Telecom by 34.4% during the fourth quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock valued at $64,000 after acquiring an additional 773 shares during the period.

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.