Hanwha Aerospace surpassed market expectations by releasing its earnings, leading to hitting the upper limit in after-hours trading following the market close.
Hanwha Aerospace's stock was traded at 454,000 won in after-hours trading at 5:50 p.m. on the 10th. This was an increase of 9.93% (40,000 won) compared to the closing price of 413,000 won. The upper limit in after-hours trading is 10% above the closing price.
Hanwha Aerospace disclosed its fourth-quarter (October to December) earnings after the market close on this day. It recorded a consolidated revenue of 4.8311 trillion won and an operating income of 892.5 billion won. Both revenues and operating income were 31% and 66% higher than market expectations, respectively. The strong performance is interpreted as being driven by high overseas defense export revenue.
Securities firms are optimistic that Hanwha Aerospace could continue to experience stock price increases if it succeeds in additional defense exports. Countries such as India, Romania, and Vietnam are cited as potential markets.
According to financial data firm FnGuide, securities firms have set an average target price of 499,000 won for Hanwha Aerospace this year. Kyobo Securities and Hana Securities have the highest target price at 560,000 won, while DS Investment & Securities has the lowest at 440,000 won.