[Alpha Biz=(Chicago) Reporter Kim Jisun] Stock prices are plummeting as EcoPro and EcoProBM's earnings fall short of expectations.

According to the Korea Exchange on the 12th, Ecopro is trading at 927,000 won as of 2:57 p.m., down 5.02% from the previous day.

EcoproBM is also trading at 279,500 won, down 5.25%, and EcoproHen at 61,200 won, down 3.77%.

Ecopro announced on the same day that its operating profit fell 2.1% year-on-year to 166.4 billion won in the second quarter. Ecoprobm recorded 114.7 billion won in operating profit in the second quarter, up 11.5%.

According to the FnGuide, there was a lack of consensus for EcoPro itself. The consensus is usually based on the sum of estimates of three or more securities firms within the last three months, as only two Hana Securities and Samsung Securities have written reports during the period. 

 

However, the Hana Securities report did not provide an estimate for the second quarter, so Samsung Securities' operating profit of KRW 225 billion was the only figure for Ecopro's second-quarter earnings. The actual second quarter performance is 26% lower than this.

Ecoprobm's consensus is 128.9 billion won in operating profit, but its performance announced on the same day also fell short of this. As a result, the target price of securities firms, which was currently lower than stock prices, appears to be gaining momentum and sparking controversy over their overvaluation.

 

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