[Featured Stock] Samsung SDI Rises on Expectations to Meet Q3 Earnings Forecast
[Asia Economy Reporter Song Hwajeong] Samsung SDI is showing strength amid expectations that its third-quarter performance this year will meet forecasts.
As of 10:18 AM on the 27th, Samsung SDI was trading at 747,000 KRW, up 21,000 KRW (2.89%) from the previous day.
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The anticipation of strong third-quarter results is interpreted as a factor driving the stock price increase. Kiwoom Securities forecasted that Samsung SDI's third-quarter operating profit will increase by 32% year-on-year to 354.1 billion KRW, meeting the market consensus of 349.4 billion KRW. Ji-san Kim, a researcher at Kiwoom Securities, explained, "Although some sales disruptions in automotive batteries are inevitable due to semiconductor supply shortages, small batteries and electronic materials are performing better than expected and will benefit from favorable exchange rate conditions." Researcher Kim added, "Along with the profit expansion of automotive batteries, the company's overall operating profit will continue its upward trend," and estimated that "the fourth-quarter operating profit will increase by 74% year-on-year to 428.2 billion KRW."
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