SK Telecom (NYSE:SKM) Cut to "Neutral" at The Goldman Sachs Group

SK Telecom (NYSE:SKM - Get Free Report) was downgraded by equities research analysts at The Goldman Sachs Group from a "buy" rating to a "neutral" rating in a research note issued on Monday,Finviz reports.

Other analysts also recently issued research reports about the company. UBS Group assumed coverage on SK Telecom in a research note on Wednesday, February 19th. They set a "buy" rating on the stock. StockNews.com raised SK Telecom from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 1st. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy".

SK Telecom Stock Down 1.5 %

SKM stock opened at $21.91 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The firm's 50-day simple moving average is $21.60 and its 200 day simple moving average is $22.55. The stock has a market cap of $8.63 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 1.27 and a beta of 0.80. SK Telecom has a fifty-two week low of $19.88 and a fifty-two week high of $24.58.

SK Telecom (NYSE:SKM - Get Free Report) last announced its quarterly earnings results 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%. As a group, sell-side analysts predict that SK Telecom will post 2.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in SK Telecom in the third quarter worth approximately $205,000. First Trust Direct Indexing L.P. raised its stake in shares of SK Telecom by 7.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 16,497 shares of the Wireless communications provider's stock worth $392,000 after buying an additional 1,114 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of SK Telecom by 4.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,009 shares of the Wireless communications provider's stock valued at $55,979,000 after buying an additional 98,323 shares during the period. QRG Capital Management Inc. boosted its stake in SK Telecom by 100.8% during the third quarter. QRG Capital Management Inc. now owns 48,004 shares of the Wireless communications provider's stock valued at $1,141,000 after buying an additional 24,103 shares in the last quarter. Finally, PDS Planning Inc acquired a new position in SK Telecom during the third quarter worth about $200,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.