StockNews.com Lowers SK Telecom (NYSE:SKM) to Buy

StockNews.com lowered shares of SK Telecom (NYSE:SKM) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.

Several other research analysts also recently weighed in on the stock. Nomura Securities raised shares of SK Telecom from a strong sell rating to a hold rating in a report on Wednesday, May 8th. Nomura raised shares of SK Telecom from a reduce rating to a neutral rating in a research note on Wednesday, May 8th.

SK Telecom Trading Up 0.8 %

SK Telecom stock opened at $20.97 on Tuesday. SK Telecom has a 12 month low of $18.52 and a 12 month high of $22.71. The stock has a fifty day simple moving average of $20.94 and a two-hundred day simple moving average of $21.18. 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 quarterly earnings results on Wednesday, May 8th. The Wireless communications provider reported $0.68 EPS 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%. As a group, analysts expect that SK Telecom will post 2.13 EPS for the current year.

Institutional Investors Weigh In On SK Telecom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ramirez Asset Management Inc. purchased a new stake in SK Telecom during the 3rd quarter valued at $8,165,000. Promethos Capital LLC bought a new stake in SK Telecom during the 1st quarter valued at $5,875,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of SK Telecom in the 1st quarter worth $3,364,000. Meritage Portfolio Management purchased a new stake in shares of SK Telecom during the 1st quarter worth $2,691,000. Finally, Acadian Asset Management LLC boosted its position in SK Telecom by 79.6% during the first quarter. Acadian Asset Management LLC now owns 281,508 shares of the Wireless communications provider’s stock valued at $6,068,000 after purchasing an additional 124,739 shares in the last quarter.

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.