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[Alpha Biz=(Chicago) Reporter Kim Jisun] AmorePacific's "earning shock" in the second quarter is visible. Securities firms have recently lowered their operating profit forecasts. Target stock prices are also falling one after another.
According to financial information provider FnGuide on the 26th, Amorepacific's second-quarter operating profit estimate for 14 securities firms was 54.3 billion won (on a consolidated basis). It is 34.2% lower than the estimate three months ago (82.5 billion won). What's notable is that its operating profit forecast is being sharply revised down, especially among securities firms that recently released reports.
Kiwoom Securities Co. (KRW 38.3 billion), Hana Securities Co. (KRW 34.4 billion), NH Investment & Securities Co. (KRW 33.7 billion) and Hanwha Investment & Securities Co. (KRW 27.5 billion), which recently released their reports within two business days, predicted an earnings shock for AmorePacific.
Stock markets are also seeing AmorePacific's target stock price fall, which is expected to further increase the burden on stock prices. NH Investment & Securities lowered Amorepacific's target price from 170,000 won to 140,000 won.
Hana Securities (170,000 won → 150,000 won) and Hanwha Investment & Securities (160,000 won → 140,000 won) also lowered their target stock prices. AmorePacific closed at 101,400 won, up 0.3% (300 won) from the previous trading day. At one point in the day, stock prices fell to KRW 97,000. It is the first time since November 4 last year that the 100,000 won line has been broken.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
