SK Telecom (SKM) Lifted to “Buy” at Nomura

Nomura upgraded shares of SK Telecom (NYSE:SKM) from a neutral rating to a buy rating in a research note released on Friday morning, MarketBeat.com reports.

Separately, HSBC raised SK Telecom from a hold rating to a buy rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $30.00.

Shares of SKM stock traded down $0.33 during trading hours on Friday, reaching $27.77. 939,074 shares of the company’s stock were exchanged, compared to its average volume of 644,467. The company has a market cap of $17.86 billion, a PE ratio of 7.59, a PEG ratio of 0.42 and a beta of 0.52. The company has a current ratio of 1.36, a quick ratio of 1.31 and a debt-to-equity ratio of 0.32. SK Telecom has a fifty-two week low of $22.66 and a fifty-two week high of $28.97.

SK Telecom (NYSE:SKM) last issued its quarterly earnings results on Friday, September 14th. The Wireless communications provider reported $1.33 earnings per share (EPS) for the quarter. The business had revenue of $3.86 billion for the quarter. SK Telecom had a return on equity of 20.22% and a net margin of 18.28%. On average, equities analysts forecast that SK Telecom will post 4.21 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of SK Telecom by 43.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 14,764 shares of the Wireless communications provider’s stock valued at $344,000 after acquiring an additional 4,438 shares during the period. Boston Common Asset Management LLC increased its position in shares of SK Telecom by 60.8% in the 2nd quarter. Boston Common Asset Management LLC now owns 47,935 shares of the Wireless communications provider’s stock valued at $1,118,000 after acquiring an additional 18,130 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of SK Telecom in the 2nd quarter valued at $7,030,000. CIBC World Markets Inc. increased its position in shares of SK Telecom by 4.0% in the 2nd quarter. CIBC World Markets Inc. now owns 233,548 shares of the Wireless communications provider’s stock valued at $5,446,000 after acquiring an additional 8,901 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of SK Telecom by 6.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 228,812 shares of the Wireless communications provider’s stock valued at $5,336,000 after acquiring an additional 14,064 shares during the period. 10.78% of the stock is currently owned by institutional investors and hedge funds.

About SK Telecom

SK Telecom Co, Ltd. provides wireless telecommunication services in South Korea. The company operates in four segments: Cellular Services, Fixed-Line Telecommunication Services, E-Commerce Services, and Other Businesses. The Cellular Services segment offers wireless voice transmission and data transmission services; cellular global roaming services; interconnection services to connect its networks to fixed-line and other wireless networks; Internet of Things solutions; and platform services, as well as sells wireless devices, including smartphones and basic phones, tablets and other Internet access devices, and wearable devices.

Further Reading: Debt-To-Equity Ratio

Analyst Recommendations for SK Telecom (NYSE:SKM)

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