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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Engineering & Construction's stock price hit a 52-week low on the 24th as its fourth-quarter earnings failed to meet market expectations.
On the stock market, Hyundai Engineering & Construction closed at 31,400 won, down 2.03% from the previous trading day.
Stock prices fell to 31,300 won during the day, hitting a new 52-week low.
On the previous day, Hyundai Engineering & Construction announced that its operating profit in the fourth quarter of last year was KRW 144.5 billion, up 94.5% from a year earlier.
On the same day, the stock market lowered its target stock price one after another, evaluating that Hyundai Engineering & Construction's fourth-quarter earnings fell below market expectations.
NH Investment & Securities lowered its target price from 48,000 won to 42,000 won, saying Hyundai Engineering & Construction's low profitability will continue due to the cost burden in the housing sector for the time being.
In addition, Samsung Securities (49,000 won → 42,000 won), eBEST Investment & Securities (55,000 won → 50,000 won), Shinhan Investment & Securities (49,000 won → 46,000 won), Kyobo Securities (53,000 won → 40,000 won), and Hi Investment & Securities (53,000 won → 47,000 won) all lowered Hyundai Engineering & Construction's target price.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
