SK Telecom (NYSE:SKM) Rating Lowered to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of SK Telecom (NYSE:SKM) from an overweight rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports.

A number of other research analysts also recently issued reports on the company. Citigroup downgraded SK Telecom from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 6th. UBS Group began coverage on SK Telecom in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. The Goldman Sachs Group downgraded SK Telecom from a “buy” rating to a “neutral” rating in a research note on Monday, March 3rd. Finally, StockNews.com downgraded SK Telecom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, SK Telecom presently has a consensus rating of “Hold”.

SK Telecom Stock Down 3.2%

Shares of SKM opened at $20.12 on Monday. The company has a market capitalization of $7.92 billion, a PE ratio of 8.21, a PEG ratio of 1.27 and a beta of 0.63. SK Telecom has a 12 month low of $20.00 and a 12 month high of $24.58. The stock’s 50-day moving average price is $21.55 and its two-hundred day moving average price is $21.87. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Todd Asset Management LLC raised its stake in SK Telecom by 4.4% during the 1st quarter. Todd Asset Management LLC now owns 160,720 shares of the Wireless communications provider’s stock worth $3,417,000 after buying an additional 6,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in SK Telecom by 113.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 428,723 shares of the Wireless communications provider’s stock worth $9,115,000 after purchasing an additional 227,792 shares in the last quarter. Citigroup Inc. increased its holdings in SK Telecom by 55.5% during the 1st quarter. Citigroup Inc. now owns 1,202,830 shares of the Wireless communications provider’s stock worth $25,572,000 after purchasing an additional 429,434 shares in the last quarter. Probity Advisors Inc. increased its holdings in SK Telecom by 4.9% during the 1st quarter. Probity Advisors Inc. now owns 28,829 shares of the Wireless communications provider’s stock worth $613,000 after purchasing an additional 1,346 shares in the last quarter. Finally, US Bancorp DE increased its holdings in SK Telecom by 27.9% during the 1st quarter. US Bancorp DE now owns 119,368 shares of the Wireless communications provider’s stock worth $2,538,000 after purchasing an additional 26,073 shares in the last quarter.

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.