[Featured Stock] "Q2 Earnings Expected to Fall Short of Estimates"…Goyoung Down 5.15%

Goyoung's stock price is weak amid forecasts that its second-quarter earnings this year will fall short of market expectations.

As of 9:47 a.m. on the 22nd, Goyoung was trading at 11,960 won, down 650 won (5.15%) from the previous trading day.

On the same day, Eugene Investment & Securities lowered Goyoung's target price from 21,000 won to 17,000 won. The buy rating was maintained.

Park Jong-sun, a researcher at Eugene Investment & Securities, said regarding Goyoung's second-quarter earnings outlook, "Sales are expected to be 53.6 billion won and operating profit 3.3 billion won, achieving similar results compared to the same period last year," adding, "Sales and operating profit are expected to fall short of market expectations (sales of 55.5 billion won and operating profit of 5 billion won)."

He added, "Compared to the past five consecutive quarters of year-on-year sales decline, the second quarter of this year seems to have maintained the same level as the previous year, indicating a slowdown in the decline. This is because sales in the second quarter of last year and the previous quarter were at similar levels, suggesting that the earnings are confirming a bottom," and added, "Sales related to automobiles and the Internet of Things (IoT) are recovering compared to the previous quarter."