[EQUITIES] HI Investment & Securities forecasts 17.1% rise in Hyundai Glovis’ Q2 earnings

[THE INVESTOR] HI Investment & Securities forecast on July 12 that Hyundai Glovis will post a 17.1 percent on-year increase in its second-quarter operating profit to reach 185.8 billion won (US$ 161.36 million).

“Most divisions, with the exception of the pure car carrier business, are expected to achieve external growth, especially on the back of stabilizing raw material prices,” the brokerage said in a report. 

It added that Hyundai Glovis shares are undervalued considering its 10.3 price-earnings ratio is below the 19.1 average for local logistics firms.

By Kim Ji-hyun (jemmie@heraldcorp.com)