GS E&C expects 3Q earnings to meet market expectations (Yuanta Securities)
GS E&C expects 3Q earnings to meet market expectations (Yuanta Securities)
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  • 승인 2021.10.14 10:37
  • 최종수정 2021.10.14 09:13
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gs건설 CI
gs건설 CI

Yuanta Securities maintained its investment opinion "buy" and target price of 57,000 won for GS Engineering & Construction, saying its third-quarter earnings are expected to meet market expectations this year.

Yuanta Securities estimated on the 14th that GS Engineering & Construction's sales in the third quarter of this year will increase 0.7% year-on-year to KRW 2.33 trillion and operating profit will increase 6.6% to KRW 223.1 billion.

Yuanta Securities said, "GS E&C's housing/building sales in the first half of this year decreased compared to the same period last year, but it will shift to an increase in the second quarter.".

Yuanta Securities explained that GS Engineering & Construction's housing sales and overseas order performance are the defenses of the plant sales gap.

"GS Engineering & Construction's home sales in the third quarter of this year reached about 17,000 units, about 55% of the guidance,"Yuanta Securities said. "Although the delay in the sale of some maintenance projects is negative, it is expected to sell more than 8,000 units in October.".

Yuanta Securities added, "If it is not far below the sales guidance in 2021, we expect that the trend of improving performance in the housing/construction sector following the housing sale will be valid.".

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com


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