SK Telecom (NYSE:SKM) Sees Large Volume Increase – Still a Buy?

SK Telecom Co., Ltd. (NYSE:SKM) saw an uptick in trading volume on Monday . 442,642 shares were traded during trading, an increase of 80% from the previous session’s volume of 246,101 shares.The stock last traded at $21.22 and had previously closed at $21.37.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SKM shares. UBS Group initiated coverage on SK Telecom in a report on Wednesday, February 19th. They issued a “buy” rating for the company. The Goldman Sachs Group lowered shares of SK Telecom from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, StockNews.com lowered shares of SK Telecom from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, SK Telecom currently has a consensus rating of “Hold”.

SK Telecom Stock Performance

The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 1.27 and a beta of 0.77. 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 stock has a 50-day simple moving average of $21.65 and a 200-day simple moving average of $22.34.

SK Telecom (NYSE:SKM) last posted its quarterly earnings data 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, analysts anticipate that SK Telecom Co., Ltd. will post 2.27 earnings per share for the current year.

Institutional Trading of SK Telecom

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers grew its position in shares of SK Telecom by 30.8% in the 4th quarter. Rhumbline Advisers now owns 87,146 shares of the Wireless communications provider’s stock worth $1,834,000 after acquiring an additional 20,506 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in SK Telecom by 2,337.9% during the third quarter. JPMorgan Chase & Co. now owns 17,748 shares of the Wireless communications provider’s stock worth $422,000 after purchasing an additional 17,020 shares during the last quarter. Blue Trust Inc. boosted its holdings in SK Telecom by 51.2% in the fourth quarter. Blue Trust Inc. now owns 65,823 shares of the Wireless communications provider’s stock worth $1,385,000 after purchasing an additional 22,281 shares during the period. Global Retirement Partners LLC increased its stake in SK Telecom by 130.8% during the fourth quarter. Global Retirement Partners LLC now owns 7,526 shares of the Wireless communications provider’s stock valued at $158,000 after purchasing an additional 4,265 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of SK Telecom during the fourth quarter worth $658,000.

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.