SK Telecom (NYSE:SKM) Upgraded at StockNews.com

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

SKM has been the subject of a number of other research reports. UBS Group began coverage on SK Telecom in a report on Wednesday, February 19th. They set a “buy” rating for the company. The Goldman Sachs Group cut shares of SK Telecom from a “buy” rating to a “neutral” rating in a research report on Monday, March 3rd. Three investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

SK Telecom Stock Up 0.7 %

Shares of SK Telecom stock opened at $22.89 on Friday. The company’s 50 day moving average price is $21.68 and its 200-day moving average price is $22.03. SK Telecom has a 52-week low of $20.02 and a 52-week high of $24.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 1.27 and a beta of 0.71.

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

Institutional Investors Weigh In On SK Telecom

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers increased its position in SK Telecom by 30.8% during the 4th quarter. Rhumbline Advisers now owns 87,146 shares of the Wireless communications provider’s stock valued at $1,834,000 after buying an additional 20,506 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in SK Telecom by 2,337.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,748 shares of the Wireless communications provider’s stock worth $422,000 after purchasing an additional 17,020 shares in the last quarter. US Bancorp DE increased its stake in SK Telecom by 27.8% during the 4th quarter. US Bancorp DE now owns 93,295 shares of the Wireless communications provider’s stock valued at $1,963,000 after purchasing an additional 20,285 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of SK Telecom by 51.2% in the fourth quarter. Blue Trust Inc. now owns 65,823 shares of the Wireless communications provider’s stock worth $1,385,000 after buying an additional 22,281 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of SK Telecom by 130.8% during the fourth quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider’s stock valued at $158,000 after buying an additional 4,265 shares during 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.