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[Alpha Biz=(Chicago) Reporter Paul Lee] Hana Securities lowered the target price of HL Holdings from 51,000 won to 45,000 won on the 16th. The closing price on the 15th is 33,850 won.
Hana Securities said, "operating value of 199 billion won, equity value of 630 billion won, royalty value of 216 billion won, and borrowing of 590 billion won
It was calculated based on an appropriate market capitalization of 4,540 billion won.
It is negative that not only HL Bay, which accounts for 64% of the total corporate value, and not only HL D & I, which accounts for 19%, but also its own logistics and module businesses, which account for 14%, are affected and are exposed to the performance volatility of FI investment activities. "
HL Holdings' third-quarter sales fell 18 percent year-on-year to 281.1 billion won. Operating profit turned to deficit, recording -(minus) 13.3 billion won.
Earlier, HL Holdings announced a mid-term (2024-2026) shareholder return policy. Dividends have been allocated 2,000 won per share every year for five years since 2019, with an average dividend yield of 5.0%. It also plans to allocate at least 2,000 won in 2023. Currently, the return on stock prices is 5.9%.
It incinerated its own shares worth 10 billion won in 2023. It acquired 302,660 shares for 34,555 won. HL Holdings plans to divide and acquire a total of 20 billion won worth of shares over the next three years from 2024 and incinerate them immediately after completion of acquisition. Currently, it is about 5.8% based on stock price.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
