© Archyde.com. ‘Awning shock’ Samsung Electronics, where is the stock price… Falling after 5 trading days
Samsung Electronics ended its decline in five trading days as its preliminary estimates for the third quarter of this year fell far short of the consensus (market forecast).
According to the Korea Exchange on the 8th, Samsung Electronics finished trading at 56,200 won, a 100 won (0.18%) increase from the previous trading day. It is the last decline in five trading days.
Samsung Electronics showed great volatility in its share price, falling to 55,200 won during the day, then turning up and rising to 56,900 won. At the end of the market, the increase gradually narrowed and eventually closed down.
On the same day, before the opening, Samsung Electronics announced its provisional results for the third quarter and announced that it recorded 76 trillion won in sales and 10.8 trillion won in operating profit on a consolidated basis. Compared to the same period of the previous 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 earnings forecasts of securities firms by 2.95% and 9.0%, respectively. According to FnGuide, a financial information company, the consensus for Samsung Electronics’ (KS:) sales and operating profit in the third quarter was 78.306.2 billion won and 11.86 trillion won, respectively.
The stock market is lowering Samsung Electronics’ earnings forecasts for this year and next year. According to FnGuide, a financial information company, Samsung Electronics’ operating profit consensus for this year has been lowered from 54.23 trillion won a month ago to 5,073.1 billion won, and next year’s operating profit consensus from 49.889.5 trillion won to 41,417.3 billion won, respectively.
Song Myung-seop, a researcher at Hi Investment & Securities, said, “Samsung Electronics’ stock price has continued to weaken due to a further decline in valuation multiples due to the strengthening US interest rate hike trend and concerns over a stronger dollar and economic slowdown.” “The semiconductor industry is expected to turn around in the third quarter of next year, so it is a long way from bottoming out,” he said.
It is also predicted that the sluggish earnings will continue through the first quarter of next year. Do Hyeon-woo, a researcher at NH Investment & Securities, said, “The sluggish performance in the third quarter was led by semiconductors, which were attributed to reduced demand for information technology (IT) sets and reduced investment in hyper-scaler data centers.”
“The industry-wide excess inventory level and sluggish IT set demand are expected to continue for the time being,” said Doh, but added, “Independent of the performance that is expected to be sluggish until the first quarter of next year, the lower valuations and the reduction in memory semiconductor supply from next year are expected to continue for some time. positive,” he predicted.