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

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

A number of other equities research analysts have also weighed in on SKM. The Goldman Sachs Group lowered SK Telecom from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. UBS Group began coverage on shares of SK Telecom in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

SK Telecom Trading Up 0.7 %

NYSE:SKM opened at $22.89 on Friday. The firm has a 50-day simple moving average of $21.70 and a 200-day simple moving average of $22.02. SK Telecom has a one year low of $20.28 and a one year high of $24.58. The firm has a market cap of $9.01 billion, a P/E ratio of 9.34, a P/E/G ratio of 1.27 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91.

SK Telecom (NYSE:SKM) last posted its earnings results 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%. Equities analysts anticipate that SK Telecom will post 2.27 EPS for the current fiscal year.

Institutional Trading of SK Telecom

Several large investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its position in SK Telecom by 24.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock valued at $61,827,000 after purchasing an additional 583,519 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of SK Telecom by 9.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,595,390 shares of the Wireless communications provider’s stock valued at $33,567,000 after buying an additional 133,742 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of SK Telecom in the fourth quarter worth about $10,712,000. O Shaughnessy Asset Management LLC grew its holdings in SK Telecom by 41.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 289,356 shares of the Wireless communications provider’s stock worth $6,088,000 after acquiring an additional 85,278 shares during the period. Finally, Meritage Portfolio Management raised its position in SK Telecom by 24.5% during the fourth quarter. Meritage Portfolio Management now owns 222,170 shares of the Wireless communications provider’s stock valued at $4,674,000 after acquiring an additional 43,778 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.