© Reuters. Samsung Electronics, ‘awning shock’, where is the stock price … Down after 5 trading days
Samsung Electronics ended its decline in five trading days as its preliminary estimates for the third quarter of this year were far below consensus (market forecast).
According to the Korea Exchange on the 8th, Samsung Electronics ended trading at 56,200 won, an increase of 100 won (0.18%) from the previous trading day. It’s the latest drop in five trading days.
Samsung Electronics showed great volatility in its share price, dropping to 55,200 won during the day, then rising to 56,900 won. At the end of the market, the increase gradually reduced until it closed.
On the same day, prior to opening, Samsung Electronics announced interim results for the third quarter and announced that it had recorded 76 trillion won in sales and 10.8 trillion won in operating profit on a consolidated basis. Compared to the same period last year, sales increased by 2.73%, but operating profit decreased by 31.73%. Compared to the previous quarter, they decreased by 1.55% and 23.4% respectively.
This is below the investment firm’s earnings forecast by 2.95% and 9.0%, respectively. According to FnGuide, a financial information company, the consensus for sales and operating profit of Samsung Electronics (KS 🙂 in the third quarter was 78.306.2 billion won and 11.86 trillion won, respectively.
The stock market is lowering Samsung Electronics’ earnings forecast for this year and next year. According to FnGuide, a financial information firm, Samsung Electronics’ operating profit consensus for this year has been reduced from 54.23 trillion won a month ago to 5.073.1 billion won and the consensus on operating profit. next year from 49,889.5 trillion won to 41,417.3 billion won, respectively.
Song Myung-seop, researcher at Hi Investment & Securities, said: “The Samsung Electronics stock price continued to weaken due to a further decline in valuation multiples due to the strengthening of the upward trend in US interest rates. and concerns about a stronger dollar and slowing down. ” “The semiconductor industry is expected to turn back in the third quarter of next year, so it’s a long way from bottoming out,” he said.
The weak gains are also expected to continue throughout the first quarter of next year. Do Hyeon-woo, researcher at NH Investment & Securities, said: “Weak performance in the third quarter was driven by semiconductors, attributed to reduced demand for information technology (IT) sets and reduced investment in hyper data centers. -scalable. “
“Industry-wide excess inventory and weak demand for IT sets are expected to continue for now,” Doh said, but added: “Regardless of performance which is expected to be weak through the first quarter of next year. , the decline in valuations and the reduction in the supply of memory semiconductors from next year should continue for some time, in a positive way, “he predicted.
