It is predicted that Samsung Electronics’ operating profit in the first quarter of this year will exceed 9 trillion won. Compared to the 1Q operating profit consensus of domestic securities firms in the 1st quarter of a month ago, it is highly likely that Samsung Electronics’ earnings will exceed the expectations of securities firms. In this case, the stock price of Samsung Electronics, which has remained at ‘80,000 electrons’ for three months, may also change. Samsung Electronics is scheduled to announce its provisional results for the first quarter on the 7th.
According to F&Guide, a financial information analysis company on the 5th, Samsung Electronics’ sales and operating profit consensus in the first quarter of this year are expected to increase by 9.91% and 37% compared to the same period of the previous year to KRW 60,085.8 billion and KRW 8,834.4 billion, respectively. This earnings outlook has improved significantly from just a month ago. According to the earnings forecast at the beginning of March, sales were 60,361.4 billion won, and operating profit was 8,502.5 billion won. In one month, the sales and operating profit forecasts were raised by more than 500 billion won.
By securities firm, there are increasing numbers of companies that expect operating profits of 9 trillion won or more. Hi Investment & Securities has the most positive outlook at 9.5 trillion won, and Cape Investment & Securities (9.3 trillion won), Samsung Securities (9.2 trillion won), Eugene Investment & Securities (9.2 trillion won), Shinhan Investment & Securities (9 trillion won) KRW billion) and Mirae Asset Securities (KRW 9 trillion) are also expected to exceed KRW 9 trillion. “Semiconductor performance will be sluggish due to the impact of the Austin Line power outage and the slightly lower average selling price (ASP) increase rate,” said Song Myung-seop, a researcher at Hi Investment & Securities. I predicted.
Global brokerage firms had a more optimistic outlook. On the day, Reuters reported that Samsung Electronics’ 1Q operating profit is expected to reach 9.3 trillion won, according to 16 analysts at global securities companies. This is a 45% increase from the same period last year, and is the highest level since the first quarter of 2018 on a quarterly basis. According to the consensus of these 16 analysts, sales reached 61.96 trillion won, up 12% year-on-year.
They predicted that the sales of smartphones, TVs and home appliances will lead the Samsung Electronics 1Q earnings. In the case of smartphones, the sales of the Galaxy S21, which was released in mid-January, were good. According to counterpoint research, a market research firm, the market share of Samsung Electronics’ smartphones in the first quarter of this year was 23%, an increase of more than 3 percentage points from the first quarter of last year. In addition, sales of high-margin accessories such as the Galaxy Bud are also expected to increase, resulting in an operating profit of 4.5 trillion won in the mobile sector alone. The TV and home appliance divisions are also expected to record 1 trillion won in operating profit, more than doubled from the same period last year on the back of a full-fledged recovery in consumption. However, the semiconductor division is expected to reach 3.6 trillion won, down 20% from the same period last year, despite global demand growth. The impact of the Austin plant shutting down was largely due to a cold wave in Texas in the United States in mid-February. Samsung Electronics announced that as of the end of March, factory production has returned to almost normal levels.
Securities experts predicted that if Samsung Electronics’ 1Q11 results exceed the expectations of domestic analysts and close to those of global securities firms, it will revitalize not only Samsung Electronics, but the entire stock market. Daejun Kim, a researcher at Korea Investment & Securities, said, “We should pay attention to whether Samsung Electronics’ 1Q results exceed the consensus, but if a surprise comes out, the stock price, which has been sluggish so far, can find vitality.”
On this day, Samsung Electronics closed at 85,400 won, up 0.71% from the previous trading day. On January 11th, it has risen to 9,800 won during the intraday, and then has entered a correction phase.
As semiconductors are entering a full-fledged price rebound cycle in 2Q, it is highly likely that Samsung Electronics will re-enter the era of 10 trillion won in quarterly operating profit as the DRAM and NAND divisions drive earnings. Park Yoo-ak, a researcher at Kiwoom Securities, said, “A rise in memory semiconductor prices, normal operation of the Austin plant, and an upward revision of the earnings season will serve as a catalyst for Samsung Electronics’ share price rise.”
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