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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hana Securities raised its investment opinion to "buy" and its target stock price to 45,000 won, saying its fourth-quarter earnings last year will far exceed market consensus.
"DL E&C's sales in the fourth quarter of last year are estimated to be 2.1 trillion won and operating profit of 136.8 billion won, which are estimated to far exceed the market consensus," Hana Securities said on the 3rd. "It is attributed to a rise in housing margins and a steady increase in sales in the plant sector."
DL E&C may see a slight drop in home sales, but there is room for margin improvement. In particular, earnings growth in the plant sector is notable. The shareholder return policy announced in the past was 15% of net profit. Hana Securities' analysis shows that it can expect a new shareholder return policy at the time of the announcement of its earnings.
"DL E&C has no liquidity problems that the construction industry is concerned about," Hana Securities said. "We will be able to receive a high valuation compared to our peers as we can expect additional shareholder return measures during the earnings announcement in early February."
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
