SK Telecom (NYSE:SKM) Research Coverage Started at UBS Group

UBS Group started coverage on shares of SK Telecom (NYSE:SKM) in a research report report published on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating on the Wireless communications provider’s stock.

Separately, StockNews.com upgraded shares of SK Telecom from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 1st.

SK Telecom Stock Down 1.5 %

Shares of SKM stock opened at $22.71 on Wednesday. SK Telecom has a 12 month low of $19.88 and a 12 month high of $24.58. The stock has a market cap of $8.94 billion, a P/E ratio of 9.27, a P/E/G ratio of 1.23 and a beta of 0.80. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. The company has a 50 day simple moving average of $21.52 and a two-hundred day simple moving average of $22.53.

SK Telecom (NYSE:SKM) last announced its earnings results on Wednesday, February 12th. The Wireless communications provider reported $0.63 EPS for the quarter. SK Telecom had a net margin of 7.26% and a return on equity of 10.39%. On average, research analysts expect that SK Telecom will post 2.27 earnings per share for the current year.

Institutional Investors Weigh In On SK Telecom

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Securities Inc. increased its position in SK Telecom by 147.7% during the 4th quarter. Principal Securities Inc. now owns 1,209 shares of the Wireless communications provider’s stock valued at $25,000 after purchasing an additional 721 shares during the period. Matthews International Capital Management LLC increased its position in SK Telecom by 102.5% during the 4th quarter. Matthews International Capital Management LLC now owns 2,550 shares of the Wireless communications provider’s stock valued at $54,000 after purchasing an additional 1,291 shares during the period. Assetmark Inc. increased its position in SK Telecom by 57.6% during the 3rd quarter. Assetmark Inc. now owns 2,949 shares of the Wireless communications provider’s stock valued at $70,000 after purchasing an additional 1,078 shares during the period. GAMMA Investing LLC increased its position in SK Telecom by 34.4% during the 4th quarter. GAMMA Investing LLC now owns 3,019 shares of the Wireless communications provider’s stock valued at $64,000 after purchasing an additional 773 shares during the period. Finally, Quadrant Capital Group LLC increased its position in SK Telecom by 15.2% during the 4th quarter. Quadrant Capital Group LLC now owns 5,797 shares of the Wireless communications provider’s stock valued at $122,000 after purchasing an additional 764 shares during the period.

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.