SK Telecom (NYSE:SKM) Stock Rating Lowered by Zacks Investment Research

SK Telecom (NYSE:SKM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “SK Telecom Co. is the world’s first commercial CDMA digital cellular service. As of September 30, 1997, they have provided the highest quality service for more than 4 million cellular customers which includes 2.3 million digital cellular customers, and 7.1 million paging customers. “

Several other equities research analysts also recently issued reports on SKM. ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Macquarie started coverage on SK Telecom in a report on Tuesday, May 21st. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. SK Telecom has an average rating of “Hold”.

SKM stock traded up $0.17 during midday trading on Friday, hitting $24.31. 224,163 shares of the company’s stock were exchanged, compared to its average volume of 334,769. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.39. SK Telecom has a 12-month low of $23.14 and a 12-month high of $28.56. The business has a 50 day moving average of $24.21. The firm has a market capitalization of $15.45 billion, a PE ratio of 5.45 and a beta of 0.29.

Several hedge funds and other institutional investors have recently bought and sold shares of SKM. Icon Wealth Partners LLC acquired a new position in shares of SK Telecom during the 1st quarter worth about $36,000. Investors Research Corp acquired a new position in shares of SK Telecom during the 1st quarter worth about $64,000. Aspire Private Capital LLC acquired a new position in shares of SK Telecom during the 4th quarter worth about $85,000. Financial Gravity Wealth Inc. acquired a new position in shares of SK Telecom during the 1st quarter worth about $89,000. Finally, Penserra Capital Management LLC acquired a new position in shares of SK Telecom during the 1st quarter worth about $111,000. 10.31% of the stock is owned by institutional investors and hedge funds.

About SK Telecom

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

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