Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
4
OpenAI in talks with Samsung to power AI features, report says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
7
South Korean military plans to launch new division for future warfare
-
8
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
9
Kia EV9 GT marks world debut at LA Motor Show
-
10
Teen smoking, drinking decline, while mental health, dietary habits worsen
[EQUITIES]Hyundai Wia to post Q3 earnings below market estimates: analyst
By 안성미Published : Oct. 18, 2016 - 16:01
[THE INVESTOR] HMC Investment Securities on Oct. 18 projected Hyundai Wia, the automotive parts unit of Hyundai Motor Group, will post earnings below market consensus in the third quarter.
Hyundai Wia’s third-quarter sales will decrease 3.4 percent on-year to 1.75 trillion won (US$1.54 billion), while operating profit will plunge 34.8 percent to 72.8 billion won, the brokerage said.
The HMC Investment Securities’ estimates are below the previous market consensus of 4.9 percent for sales and 14.8 percent for operating profit.
Hyundai Wia’s third-quarter sales will decrease 3.4 percent on-year to 1.75 trillion won (US$1.54 billion), while operating profit will plunge 34.8 percent to 72.8 billion won, the brokerage said.
The HMC Investment Securities’ estimates are below the previous market consensus of 4.9 percent for sales and 14.8 percent for operating profit.
“The earnings are affected by the production decline in domestic facilities and cost incurred by building new plants,” Lee Myung-hoon from the brokerage said.
However, Lee said Hyundai Wia’s long-term growth momentum is still robust, driven by increased engine supply within the Hyundai Motor Group.
The securities firm maintained a “buy” recommendation and a target price of 130,000 won.
By Ahn Sung-mi (sahn@heraldcorp.com)
