October 31, 2020

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SK Telecom (NYSE:SKM) Coverage Initiated by Analysts at Goldman Sachs Group

3 min read
Goldman Sachs Group began coverage on shares of SK Telecom (NYSE:SKM) in a report released...

Goldman Sachs Group began coverage on shares of SK Telecom (NYSE:SKM) in a report released on Thursday morning, The Fly reports. The firm issued a buy rating on the Wireless communications provider’s stock.

SKM has been the topic of a number of other reports. Zacks Investment Research upgraded SK Telecom from a hold rating to a buy rating and set a $23.00 price target on the stock in a research report on Saturday, August 8th. ValuEngine lowered SK Telecom from a sell rating to a strong sell rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. SK Telecom has an average rating of Buy and a consensus price target of $23.00.

SKM stock opened at $21.95 on Thursday. SK Telecom has a 1-year low of $14.07 and a 1-year high of $23.80. The firm has a market cap of $15.58 billion, a P/E ratio of 20.51 and a beta of 0.73. The business’s 50 day moving average is $20.52 and its 200-day moving average is $19.29. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.43.

SK Telecom (NYSE:SKM) last released its quarterly earnings data on Thursday, August 6th. The Wireless communications provider reported $0.53 earnings per share for the quarter. SK Telecom had a return on equity of 3.84% and a net margin of 5.13%. The company had revenue of $3.77 billion for the quarter. Sell-side analysts forecast that SK Telecom will post 1.65 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its position in SK Telecom by 79.9% in the 2nd quarter. Nordea Investment Management AB now owns 4,126,520 shares of the Wireless communications provider’s stock valued at $79,188,000 after buying an additional 1,832,754 shares during the last quarter. Morgan Stanley boosted its position in SK Telecom by 58.1% in the 1st quarter. Morgan Stanley now owns 2,027,709 shares of the Wireless communications provider’s stock valued at $32,991,000 after buying an additional 745,360 shares during the last quarter. Pendal Group Ltd bought a new position in SK Telecom in the 1st quarter valued at $8,743,000. Oldfield Partners LLP boosted its position in SK Telecom by 12.2% in the 1st quarter. Oldfield Partners LLP now owns 4,019,993 shares of the Wireless communications provider’s stock valued at $65,405,000 after buying an additional 436,400 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in SK Telecom by 17.7% in the 2nd quarter. Bank of America Corp DE now owns 2,855,554 shares of the Wireless communications provider’s stock valued at $55,168,000 after buying an additional 429,413 shares during the last quarter. Institutional investors and hedge funds own 9.09% 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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The Fly

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