–
For the first time, the prospect that Samsung Electronics’ operating profit for next year will exceed 50 trillion won has emerged. This is because DRAM prices will jump sharply from the second quarter of next year, and the foundry division will also show strong performance.
Samsung Electronics closed the transaction at 73,800 won on the 15th. The driving force behind raising the share price of Samsung Electronics, which was in the high 50,000 won range by more than 20% from November, was the expectation for a recovery in DRAM prices next year. Securities companies were passive in raising their forecasts for next year’s operating profit, as it was difficult to estimate the extent of the increase even though they were expecting DRAM prices to recover.
For this reason, Samsung Electronics’ next year’s operating profit consensus (average of securities firms’ estimates) is 46,439.3 billion won, which is not significantly different from the forecast a month ago (46,4321 billion won). While the earnings outlook remained the same, as the stock price rose, Samsung Electronics’ 12-month lead-in stock price-earnings ratio (PER) reached a record high of 14.3x.
However, the recent earnings outlook has also begun to rise. On that day, Hyundai Motor Securities presented Samsung Electronics’ operating profit forecast of 50 trillion won for next year. This is the first time that Samsung Electronics has presented more than 50 trillion won as an operating profit forecast for next year. It is expected that DRAM prices will rebound to double digits compared to the previous quarter, boosting earnings, and foundry sales will also help.
Noh Geun-chang, a researcher at Hyundai Motor Securities, said, “The environment is ripe to challenge first place in the field of foundry and image sensors. It reflects the expectations for the company’s performance.” It is analyzed that Samsung Electronics’ 2022 operating profit consensus is 57.5 trillion won, which is preliminary.
Previously, KB Securities and Heungkuk Securities presented Samsung Electronics’ operating profit forecasts for next year at 48.500 billion and 48.700 billion, respectively. In the securities industry, it is highly likely that securities companies will continuously raise operating profits for next year before and after Samsung Electronics announced its 4Q results.
The target price is also rising. Hyundai Motor Securities and DB Financial Investment set a target price of 95,000 won for Samsung Electronics. As of this month, the average target price suggested by 13 securities companies was 86,000 won, up 8.8% from the previous year. It is an evaluation that the target price of 100,000 won has also entered the countdown.
Reporter Yoonsang Ko [email protected]
–
Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution
–
