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

StockNews.com upgraded shares of SK Telecom (NYSE:SKM) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

SK Telecom Stock Performance

NYSE:SKM opened at $21.48 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.91 and a quick ratio of 0.88. The firm has a 50-day moving average of $21.89 and a two-hundred day moving average of $22.55. The stock has a market cap of $8.46 billion, a P/E ratio of 9.94, a PEG ratio of 1.91 and a beta of 0.80. SK Telecom has a 1-year low of $19.88 and a 1-year high of $24.58.

SK Telecom (NYSE:SKM) last issued its earnings results on Wednesday, November 6th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter. The business had revenue of $3.35 billion for the quarter. SK Telecom had a net margin of 6.31% and a return on equity of 9.03%. On average, research analysts expect that SK Telecom will post 2.05 earnings per share for the current fiscal year.

Institutional Trading of SK Telecom

Large investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. lifted its position in SK Telecom by 24.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,938,528 shares of the Wireless communications provider’s stock worth $61,827,000 after buying an additional 583,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in SK Telecom in the 3rd quarter worth $4,227,000. AQR Capital Management LLC acquired a new stake in shares of SK Telecom during the 2nd quarter valued at about $1,570,000. Meritage Portfolio Management lifted its holdings in SK Telecom by 45.6% during the 3rd quarter. Meritage Portfolio Management now owns 178,392 shares of the Wireless communications provider’s stock valued at $4,240,000 after purchasing an additional 55,877 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in SK Telecom by 37.5% during the 2nd quarter. Millennium Management LLC now owns 158,866 shares of the Wireless communications provider’s stock valued at $3,325,000 after purchasing an additional 43,327 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.