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Jinyoung Park (photo = JYP entertainment) |
[Alpha Biz= Reporter Kim Minyoung] JYP Entertainment is expected to deliver disappointing performance in the second quarter.
On the 27th, NH Investment & Securities revised down the target price for JYP Entertainment from 100,000 to 95,000 won.
This downward adjustment is attributed to the anticipation of lackluster performance in the second quarter due to various cost expenditures, as major artists' activities are scheduled for the latter half of the year.
In fact, NH Investment & Securities forecasted JYP Entertainment's second-quarter sales to be 947 billion won, down 38% from the previous year, and operating profit to decrease by 51% to 223 billion won.
The key activities in the second quarter were the release of Nayeon's solo album and ITZY's world tour, but initial costs incurred due to the debut of rookie artist 'NEXZ.'
Earlier, other securities firms also lowered their target prices for JYP Entertainment. On the 14th, Shinhan Investment Securities lowered the target price for JYP Entertainment from 120,000 to 90,000 won.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
