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    A015760   KR7015760002

KOREA ELECTRIC POWER CORPORATION

(A015760)
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Korea Electric Power Shares Slump on Grim Earnings Outlook

06/21/2021 | 12:36am EDT

By Kwanwoo Jun

Korea Electric Power Corp.'s shares slumped Monday, as its earnings outlook turned grim after the South Korean government suppressed electricity tariffs to tame inflation.

Shares in the South Korean state utility lost as much as 6.9% to 25,050 won ($22.07) in early trading before paring losses. They last traded 6.3% lower at KRW25,200, underperforming the benchmark Kospi's 1.2% decline.

Earlier in the day, the government decided to keep tariffs unchanged for the third quarter starting July despite its recognition of the company's rising costs for fuel purchases, with the aim of keeping the country's inflation in check.

The government plans to consider raising tariffs for the fourth quarter if fuel prices continue to rise in the coming months.

Expectations for the company's earnings to improve this year on South Korea's new billing system, which is designed to reflect fluctuating energy prices better, have been fading.

Nomura recently downgraded the stock to neutral from buy and slashed its target price by 24% to KRW29,000, citing slower-than-expected tariff increases in the country.

The Japanese investment bank expects tariffs in South Korea to rise 1.8% this year despite an estimated 16% increase in fuel costs.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

(END) Dow Jones Newswires

06-21-21 0035ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.38% 34926.7 Delayed Quote.14.83%
KOREA ELECTRIC POWER CORPORATION 0.81% 24950 End-of-day quote.-8.94%
NOMURA CO., LTD. -1.27% 858 End-of-day quote.0.70%
POWER CORPORATION OF CANADA -0.28% 39.16 Delayed Quote.34.35%
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07/26MARKET CHATTER : South Korea to Maintain Stable Electricity Supply in Summer
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07/08Korea Electric Power Corporation Announces Director Appointments
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07/02KOREA ELECTRIC POWER : Investor Presentation (July 2021)
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06/23Asian ADRs Move Higher in Wednesday Trading
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06/22MARKET CHATTER : Korea Electric Power to Retain Power Rates in September Quarter..
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06/21KOREA ELECTRIC POWER : Corporate Governance Report (Form 6-K)
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06/21KOREA ELECTRIC POWER : Updates on the Unit Price of the Fuel Cost Adjuste...
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More news
Financials
Sales 2021 58 808 B 50,9 B 50,9 B
Net income 2021 -887 B -0,77 B -0,77 B
Net Debt 2021 69 285 B 59,9 B 59,9 B
P/E ratio 2021 -21,8x
Yield 2021 1,53%
Capitalization 16 017 B 13 854 M 13 855 M
EV / Sales 2021 1,45x
EV / Sales 2022 1,43x
Nbr of Employees -
Free-Float 48,4%
Chart KOREA ELECTRIC POWER CORPORATION
Duration : Period :
Korea Electric Power Corporation Technical Analysis Chart | A015760 | KR7015760002 | MarketScreener
Technical analysis trends KOREA ELECTRIC POWER CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 24 950,00 KRW
Average target price 28 333,33 KRW
Spread / Average Target 13,6%
EPS Revisions
Managers and Directors
Seung-il Cheong President, Chief Executive Officer & Director
Jeong-soo Kim Head of Finance & IR Team
Jwa-Kwan Kim Independent Director
Hyo-Seong Park Independent Director
Hyeon-Bin Lee Director & Head-Management Support
Sector and Competitors
1st jan.Capi. (M$)
KOREA ELECTRIC POWER CORPORATION-8.94%13 742
NEXTERA ENERGY0.92%152 742
ENEL S.P.A.-3.79%95 745
DUKE ENERGY CORPORATION16.16%81 814
IBERDROLA, S.A.-11.97%75 420
SOUTHERN COMPANY3.74%68 324