SK Telecom (NYSE:SKM) Lowered to "Buy" Rating by StockNews.com

SK Telecom (NYSE:SKM - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Friday.

SK Telecom Trading Down 2.9 %

NYSE SKM traded down $0.66 during mid-day trading on Friday, reaching $22.25. 188,940 shares of the stock were exchanged, compared to its average volume of 271,077. The stock has a market capitalization of $9.82 billion, a PE ratio of 10.30, a PEG ratio of 2.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.98. SK Telecom has a 1-year low of $19.88 and a 1-year high of $24.58. The business's fifty day simple moving average is $23.34 and its 200 day simple moving average is $22.12.

SK Telecom (NYSE:SKM - Get Free Report) last released its earnings results on Tuesday, August 6th. The Wireless communications provider reported $0.63 EPS for the quarter. SK Telecom had a return on equity of 8.54% and a net margin of 6.31%. The firm had revenue of $3.22 billion during the quarter. On average, research analysts anticipate that SK Telecom will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SK Telecom

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of SK Telecom by 27.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,246 shares of the Wireless communications provider's stock valued at $53,000 after buying an additional 488 shares during the period. EverSource Wealth Advisors LLC increased its stake in SK Telecom by 104.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the Wireless communications provider's stock worth $55,000 after acquiring an additional 1,372 shares during the last quarter. Assetmark Inc. raised its holdings in shares of SK Telecom by 57.6% in the 3rd quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider's stock worth $70,000 after purchasing an additional 1,078 shares during the period. Advisors Preferred LLC purchased a new stake in shares of SK Telecom during the 1st quarter worth about $112,000. Finally, Ariadne Wealth Management LP acquired a new stake in SK Telecom during the 2nd quarter worth approximately $127,000.

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.

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