Corporate Logo(source: hdksoe.co.kr)
Daol Investment & Securities has raised its target price for HD Korea Shipbuilding & Offshore Engineering (009540), the intermediate holding company for HD Hyundai’s shipbuilding units, from 310,000 KRW to 400,000 KRW. The upgrade reflects expectations of improved earnings and an increase in dividend yields.
Choi Kwang-sik, an analyst at Daol Investment & Securities, stated, “The dividend per share (DPS) for 2024 was 5,100 KRW, delivering a dividend yield of 3.3% based on the average stock price. This year’s expected yield is 3.8%, higher than last year due to improved share price levels.” He added, “With continued earnings turnaround, the dividend yield is projected to rise to between 5.9% and 7.8% in 2026–2027.”
In the first quarter of 2025, HD Korea Shipbuilding & Offshore Engineering posted revenue of 6.77 trillion KRW, up 23% year-on-year, and operating profit of 859.2 billion KRW, a surge of 436%. Net profit attributable to controlling shareholders grew 162% to 495.4 billion KRW, marking a strong earnings surprise with operating profit nearing the 1 trillion KRW mark.
Notably, HD Hyundai Samho reported revenue of 1.97 trillion KRW and operating profit of 365.9 billion KRW, with an operating margin of 18.6%. Revenue and operating profit rose by 15% and 96%, respectively, compared to the same period last year.
The target price hike reflects a 30% upward revision in HD Hyundai Samho’s projected operating profit for 2026–2027, along with the rising market capitalization of listed subsidiaries. “While HD Hyundai Heavy Industries and HD Hyundai Mipo are leading cooperation with the United States, HD Korea Shipbuilding & Offshore Engineering is likely to take part in joint venture investments as well, which enhances its investment appeal,” Choi added.
*[KOSPI]HD Korea Shipbuilding & Offshore Engineering(009540) engages in shipbuilding, offshore plant, engine machinery, and green energy businesses. Market capitalization is 17.65 trillion won(as of April 24, 2025, closing price).
Corporate Logo(source: hdksoe.co.kr)
Daol Investment & Securities has raised its target price for HD Korea Shipbuilding & Offshore Engineering (009540), the intermediate holding company for HD Hyundai’s shipbuilding units, from 310,000 KRW to 400,000 KRW. The upgrade reflects expectations of improved earnings and an increase in dividend yields.
Choi Kwang-sik, an analyst at Daol Investment & Securities, stated, “The dividend per share (DPS) for 2024 was 5,100 KRW, delivering a dividend yield of 3.3% based on the average stock price. This year’s expected yield is 3.8%, higher than last year due to improved share price levels.” He added, “With continued earnings turnaround, the dividend yield is projected to rise to between 5.9% and 7.8% in 2026–2027.”
In the first quarter of 2025, HD Korea Shipbuilding & Offshore Engineering posted revenue of 6.77 trillion KRW, up 23% year-on-year, and operating profit of 859.2 billion KRW, a surge of 436%. Net profit attributable to controlling shareholders grew 162% to 495.4 billion KRW, marking a strong earnings surprise with operating profit nearing the 1 trillion KRW mark.
Notably, HD Hyundai Samho reported revenue of 1.97 trillion KRW and operating profit of 365.9 billion KRW, with an operating margin of 18.6%. Revenue and operating profit rose by 15% and 96%, respectively, compared to the same period last year.
The target price hike reflects a 30% upward revision in HD Hyundai Samho’s projected operating profit for 2026–2027, along with the rising market capitalization of listed subsidiaries. “While HD Hyundai Heavy Industries and HD Hyundai Mipo are leading cooperation with the United States, HD Korea Shipbuilding & Offshore Engineering is likely to take part in joint venture investments as well, which enhances its investment appeal,” Choi added.
*[KOSPI]HD Korea Shipbuilding & Offshore Engineering(009540) engages in shipbuilding, offshore plant, engine machinery, and green energy businesses. Market capitalization is 17.65 trillion won(as of April 24, 2025, closing price).