SK Telecom (SKM) Cut to Buy at ValuEngine

SK Telecom (NYSE:SKM) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Monday.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut SK Telecom from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Friday, January 5th. CLSA cut SK Telecom from an “outperform” rating to an “underperform” rating in a research note on Wednesday, January 24th. Morgan Stanley reissued an “equal weight” rating on shares of SK Telecom in a research note on Thursday, January 11th. Finally, Macquarie cut SK Telecom from an “outperform” rating to a “neutral” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. SK Telecom has a consensus rating of “Hold” and a consensus price target of $30.00.

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SKM stock traded up $0.05 during midday trading on Monday, hitting $24.22. The stock had a trading volume of 410,822 shares, compared to its average volume of 504,137. The stock has a market cap of $15,361.12, a price-to-earnings ratio of 6.62 and a beta of 0.47. SK Telecom has a 52-week low of $23.01 and a 52-week high of $28.97. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 0.32.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of SK Telecom in the third quarter worth $101,000. Fieldpoint Private Securities LLC purchased a new stake in shares of SK Telecom during the third quarter valued at $122,000. We Are One Seven LLC purchased a new stake in shares of SK Telecom during the fourth quarter valued at $190,000. BancorpSouth Bank purchased a new stake in shares of SK Telecom during the fourth quarter valued at $205,000. Finally, Sawtooth Solutions LLC purchased a new stake in shares of SK Telecom during the fourth quarter valued at $206,000. 11.16% of the stock is currently owned by hedge funds and other institutional investors.

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SK Telecom Company Profile

SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.

Analyst Recommendations for SK Telecom (NYSE:SKM)

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