SK Telecom (NYSE:SKM) Upgraded to Neutral at Nomura

Nomura upgraded shares of SK Telecom (NYSE:SKM) from a reduce rating to a neutral rating in a report issued on Wednesday morning, MarketBeat.com reports.

Separately, StockNews.com lowered SK Telecom from a strong-buy rating to a buy rating in a research note on Friday, May 3rd.

SK Telecom Price Performance

Shares of SKM stock traded up $0.47 during mid-day trading on Wednesday, reaching $21.26. The company’s stock had a trading volume of 393,459 shares, compared to its average volume of 305,360. The firm’s 50-day moving average is $21.24 and its two-hundred day moving average is $21.27. The company has a market cap of $9.39 billion, a P/E ratio of 29.70, a PEG ratio of 4.49 and a beta of 0.76. SK Telecom has a 1-year low of $18.52 and a 1-year high of $22.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.92 and a current ratio of 0.94.

SK Telecom (NYSE:SKM) last posted its quarterly earnings results on Monday, April 29th. The Wireless communications provider reported $0.34 earnings per share (EPS) for the quarter. SK Telecom had a net margin of 6.22% and a return on equity of 8.62%. The firm had revenue of $3.43 billion during the quarter. On average, research analysts predict that SK Telecom will post 2.05 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

A number of large investors have recently bought and sold shares of SKM. Etesian Wealth Advisors Inc. boosted its stake in SK Telecom by 2.3% in the fourth quarter. Etesian Wealth Advisors Inc. now owns 26,115 shares of the Wireless communications provider’s stock worth $560,000 after purchasing an additional 576 shares in the last quarter. River Road Asset Management LLC grew its holdings in SK Telecom by 6.0% during the 3rd quarter. River Road Asset Management LLC now owns 11,487 shares of the Wireless communications provider’s stock worth $247,000 after acquiring an additional 647 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in SK Telecom by 1.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 83,450 shares of the Wireless communications provider’s stock valued at $1,715,000 after acquiring an additional 980 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of SK Telecom by 5.1% in the first quarter. QRG Capital Management Inc. now owns 20,343 shares of the Wireless communications provider’s stock worth $439,000 after acquiring an additional 985 shares during the last quarter. Finally, CWM LLC lifted its position in shares of SK Telecom by 3,900.0% during the fourth quarter. CWM LLC now owns 1,160 shares of the Wireless communications provider’s stock worth $25,000 after purchasing an additional 1,131 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.