ValuEngine Downgrades SK Telecom (NYSE:SKM) to Sell

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SK Telecom (NYSE:SKM) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, ValuEngine reports.

Several other research analysts have also weighed in on the company. Zacks Investment Research lowered SK Telecom from a “hold” rating to a “sell” rating in a research report on Saturday, April 20th. Macquarie started coverage on SK Telecom in a research report on Tuesday, May 21st. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold”.

Shares of SK Telecom stock opened at $23.87 on Monday. The stock has a market capitalization of $15.45 billion, a price-to-earnings ratio of 5.35 and a beta of 0.29. SK Telecom has a fifty-two week low of $23.13 and a fifty-two week high of $28.56. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $24.18.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Investors Research Corp purchased a new position in shares of SK Telecom during the first quarter worth $64,000. Bank of Montreal Can boosted its holdings in SK Telecom by 8,085.2% in the first quarter. Bank of Montreal Can now owns 208,231 shares of the Wireless communications provider’s stock valued at $5,099,000 after purchasing an additional 205,687 shares during the period. Reilly Financial Advisors LLC boosted its holdings in SK Telecom by 1.2% in the first quarter. Reilly Financial Advisors LLC now owns 282,773 shares of the Wireless communications provider’s stock valued at $6,925,000 after purchasing an additional 3,456 shares during the period. Wetherby Asset Management Inc. boosted its holdings in SK Telecom by 3.4% in the first quarter. Wetherby Asset Management Inc. now owns 33,269 shares of the Wireless communications provider’s stock valued at $814,000 after purchasing an additional 1,088 shares during the period. Finally, Brandywine Oak Private Wealth LLC boosted its holdings in SK Telecom by 92.3% in the first quarter. Brandywine Oak Private Wealth LLC now owns 11,376 shares of the Wireless communications provider’s stock valued at $278,000 after purchasing an additional 5,461 shares during the period. Institutional investors and hedge funds own 10.31% of the company’s stock.

SK Telecom Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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