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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Samsung Electronics Co., Ltd.    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

(A005930)
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Samsung likely to post 35% surge in Q3 profit as smartphone sales recover

10/06/2020 | 07:00pm EST

SEOUL, Oct 7 (Reuters) - Samsung Electronics Co Ltd's September-quarter profit likely surged more than a third, fuelled by strong smartphone sales and a rush order of memory chips from Huawei Technologies Co Ltd, analysts said.

Samsung, the world's biggest memory chip supplier, is scheduled to announce preliminary July-September operating profit and revenue on Thursday.

Profit likely rose 35% to 10.5 trillion won ($9.07 billion) from the same period a year earlier, according to Refinitiv SmartEstimate, derived from analyst estimates weighted toward those more consistently accurate. Revenue likely rose 3%.

While Samsung's overall chip business was muted, analysts said orders from Chinese smartphone maker Huawei likely propped up sales. Huawei is likely to have built stockpiles before U.S. sanctions from mid-September prevented it from buying chips made using U.S. technology without a license, analysts said.

Last year Samsung's chip business accounted for roughly half of its profit.

U.S. rival Micron Technology Inc posted market-beating profit last month, likely helped by Huawei's rush to secure inventory, analysts said.

"Huawei's emergency orders from late August drove up Samsung's DRAM and NAND chip shipments, offsetting the effect of weak prices and limiting the drop in semiconductor profits for the quarter," said analyst Song Myung-sup at HI Investment & Securities.

Prices of DRAM chips, which allow devices to multi-task, and of NAND chips, which store data, fell in July-September, showed DRAMeXchange data.

Samsung's smartphone profit, which accounted for one-third of earnings last year, likely jumped as handset demand rebounded after the COVID-19 pandemic curbed sales in the first half of 2020. Third-quarter smartphone shipments likely rose 48% to 80 million from the second quarter, according to analysts and data from Counterpoint Research.

Profit at Samsung's display business likely fell, hurt by a later-than-expected launch of customer Apple Inc's new iPhone. However, earnings from television sets and home appliances likely rose as Samsung sold more gadgets online and cut operating costs, analysts said.

Samsung is scheduled to release detailed earnings figures later this month. ($1 = 1,157.0400 won) (Reporting by Joyce Lee; Editing by Sayantani Ghosh and Christopher Cushing)


© Reuters 2020
Stocks mentioned in the article
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MICRON TECHNOLOGY, INC. 1.26% 64.23 Delayed Quote.19.43%
SAMSUNG ELECTRONICS CO., LTD. 2.10% 68000 End-of-day quote.21.86%
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Financials
Sales 2020 238 378 B 216 B 216 B
Net income 2020 27 228 B 24,7 B 24,7 B
Net cash 2020 94 252 B 85,4 B 85,4 B
P/E ratio 2020 16,5x
Yield 2020 2,15%
Capitalization 457 994 B 415 B 415 B
EV / Sales 2020 1 921x
EV / Sales 2021 1 731x
Nbr of Employees -
Free-Float 82,9%
Chart SAMSUNG ELECTRONICS CO., LTD.
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Samsung Electronics Co., Ltd. Technical Analysis Chart | A005930 | KR7005930003 | MarketScreener
Technical analysis trends SAMSUNG ELECTRONICS CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 40
Average target price 77 875,00 KRW
Last Close Price 68 200,00 KRW
Spread / Highest target 32,0%
Spread / Average Target 14,2%
Spread / Lowest Target -12,0%
EPS Revisions
Managers
NameTitle
Hyun-Suk Kim Co-President, Co-CEO & Director
Dongjin Koh Co-President, Co-CEO & Director
Kinam Kim President, Co-CEO & Director
Tae Moon Roh Co-President & Head-Research & Development
Jae-Wan Park Chairman
Sector and Competitors
1st jan.Capitalization (M$)
SAMSUNG ELECTRONICS CO., LTD.21.86%414 707
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MERRY ELECTRONICS CO., LTD.-16.72%1 031
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