[Special Stock] Samsung Engineering Hits 52-Week High on Expectations of Order Expansion
Samsung Engineering recorded a 52-week high on the 5th as securities firms forecast an expansion in orders starting from mid-year.
As of 9:59 a.m. on the same day in the KOSPI market, Samsung Engineering was trading at 31,850 KRW, up 1.27% from the previous day.
Right after the market opened, Samsung Engineering rose 3.02% from the previous day to 32,400 KRW, marking a 52-week high.
![[Special Stock] Samsung Engineering Hits 52-Week High on Expectations of Order Expansion](http://www.asiae.co.kr/news/img_view.htm?img=2019121908070053786_1576710421.jpg)
Song Yurim, a researcher at Hanwha Investment & Securities, said, "There was a gap in new orders in the first quarter of this year, and considering that it is currently the Ramadan (Islamic holy month) period, the expectation for orders is shifting from early to mid-year," adding, "High-quality orders are expected around mid-year, including the UAE Hail and Ghasha project and the US Texas liquefied natural gas (LNG) project, and additional updates on new projects will be made through this earnings announcement."
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Samsung Engineering's first-quarter operating profit is also expected to meet market expectations, growing 5.2% year-on-year to 183.4 billion KRW on a consolidated basis.
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