Hanwha Ocean (042660) Earnings Surpass Expectations with 1Q Operating Profit Beating Estimates

Hanwha Ocean on Smartkarma

Analyst coverage of Hanwha Ocean on Smartkarma reveals insights from Sanghyun Park, who adopts a bearish stance in their recent report titled “What Should We Do About the Futures Basis Spread Caused by Hanwha Ocean’s Rights Offering?” Park’s analysis delves into trading strategies aligned with the futures basis spread generated by Hanwha Ocean’s rights offering, highlighting a key date this Friday, the 24th of November. Drawing parallels to a similar occurrence during Korean Air’s rights offering in 2020, Park suggests potential profitability if the spot price remains above the futures price until the specified date. The report further notes a consistent trend where the spread persists until new share selling possibilities emerge.

A look at Hanwha Ocean Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Analysts using Smartkarma Smart Scores provide a mixed outlook for Hanwha Ocean Co., Ltd., a company operating in shipbuilding and offshore services. With a Value score of 2, Growth at 2, and Resilience also at 2, the company seems to face challenges in these areas. However, it excels in Momentum with a score of 5, indicating strong positive market momentum.

Despite facing obstacles in terms of value, growth, and resilience, Hanwha Ocean’s excellent momentum score suggests that the company may be well-positioned for future success. As a shipbuilding and offshore company offering a range of manufacturing services for vessels, including specialty vessels, gas carriers, and warships, Hanwha Ocean remains a key player in the industry, with potential for growth and development in the long term.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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