UBS Group Initiates Coverage on SK Telecom (NYSE:SKM)

Analysts at UBS Group began coverage on shares of SK Telecom (NYSE:SKM) in a report released on Wednesday, MarketBeat.com reports. The brokerage set 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 note on Saturday, February 1st.

SK Telecom Stock Up 2.8 %

NYSE:SKM opened at $23.04 on Wednesday. SK Telecom has a fifty-two week low of $19.88 and a fifty-two week high of $24.58. The stock has a market capitalization of $9.07 billion, a P/E ratio of 9.40, a P/E/G ratio of 1.20 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.88 and a current ratio of 0.91. The company’s 50-day simple moving average is $21.50 and its 200-day simple moving average is $22.52.

SK Telecom (NYSE:SKM) last released 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, equities analysts anticipate that SK Telecom will post 2.27 earnings per share for the current fiscal year.

Institutional Trading of SK Telecom

Institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its stake in SK Telecom by 3.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 13,465 shares of the Wireless communications provider’s stock valued at $283,000 after acquiring an additional 472 shares during the period. Vident Advisory LLC lifted its stake in SK Telecom by 0.8% during the 4th quarter. Vident Advisory LLC now owns 73,815 shares of the Wireless communications provider’s stock valued at $1,553,000 after acquiring an additional 610 shares during the period. Principal Securities Inc. lifted its stake 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 acquiring an additional 721 shares during the period. Quadrant Capital Group LLC lifted its stake 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 acquiring an additional 764 shares during the period. Finally, GAMMA Investing LLC lifted its stake 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 acquiring an additional 773 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.