SK Telecom (NYSE:SKM) Hits New 12-Month High at $24.45

SK Telecom Co., Ltd. (NYSE:SKM)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.45 and last traded at $24.40, with a volume of 13517 shares changing hands. The stock had previously closed at $24.31.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded SK Telecom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th.

SK Telecom Price Performance

The company has a 50-day moving average price of $22.45 and a 200-day moving average price of $21.61. The firm has a market capitalization of $10.78 billion, a PE ratio of 19.22, a P/E/G ratio of 2.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.98 and a quick ratio of 0.95.

SK Telecom (NYSE:SKM) last released its 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 8.94% and a net margin of 6.52%. The firm had revenue of $3.22 billion for the quarter. Sell-side analysts forecast that SK Telecom Co., Ltd. will post 2.29 EPS for the current year.

Hedge Funds Weigh In On SK Telecom

A number of large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of 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 purchasing an additional 652 shares during the period. Raymond James & Associates raised its holdings in shares of SK Telecom by 0.8% in the 2nd quarter. Raymond James & Associates now owns 90,116 shares of the Wireless communications provider’s stock worth $1,886,000 after purchasing an additional 729 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in shares of SK Telecom by 0.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 260,416 shares of the Wireless communications provider’s stock worth $5,615,000 after purchasing an additional 930 shares during the period. QRG Capital Management Inc. raised its holdings in shares of SK Telecom by 5.1% in the 1st quarter. QRG Capital Management Inc. now owns 20,343 shares of the Wireless communications provider’s stock worth $439,000 after purchasing an additional 985 shares during the period. Finally, Assetmark Inc. purchased a new position in shares of SK Telecom in the 4th quarter worth about $25,000.

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.