Hyundai Heavy Shares Climb

Monday, November 12, 2007
Hyundai Heavy Industries Co., whose stock more than quadrupled this year, rose to a record in Seoul trading after analysts raised their share-price targets by as much as 41 percent on an optimistic earnings outlook, according to a Bloomberg report. The world's biggest shipbuilder gained 4.1 percent to $581.49, the highest since they started trading in August 1999. The stock is the best performer of the 50 biggest companies in South Korea's Kospi index this year. Yards in South Korea, the world's largest shipbuilding country, are reporting record earnings this year on demand for vessels to transport raw materials to China and finished goods to the U.S. and Europe. Shipbuilding accounts for about half of Hyundai Heavy's sales. The company also makes marine engines and develops electronics. CJ Investment & Securities Co. increased its target price for Hyundai Heavy to $714.19 from $507.92. Korea Investment & Securities Co. raised its share-price estimate to $767.91 from $548.51. Woori Investment & Securities Co. boosted its projection to $713.13 from $592.45. Hyundai Heavy yesterday said third-quarter profit more than doubled to a record of $479m after it raised vessel prices and as China's trade with Europe and the U.S. spurred demand for ships. That compares with a $433.4m average of 12 analyst estimates compiled by Bloomberg. [Source: Bloomberg]
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Rosneft and NADL Sign Exchange of Assets Deal

Rosneft, Seadrill Limited and North Atlantic Drilling Limited (NADL) signed a Framework Agreement that envisages long-term cooperation in the sphere of oilfield development projects.

Norman Murray, Petrofac Chairman Quits

Petrofac, the international oil & gas facilities service provider, today announces that Norman Murray, who has been Chairman since May 2011, has resigned from

MN 100: AEP River Operations

16150 Main Circle Drive, Suite #400 St. Louis, MO 63017 Tel: (636) 530-2100  Email: info@aepriverops.com Website: www.aepriverops.com President: Keith Darling The

Patrol Boats

Ecuador Coastguard Orders Damen Patrol Boats

Damen announced it has recently signed a contract with AstillerosNavalesEcuatorianos (Astinave) to construct two Damen Stan Patrols (Spa) 5009 for the Ecuadorian Coastguard.

MN 100: Brunswick Commercial and Government Products

420 Megan Z. Ave Edgewater, FL 32132 Telephone: 386 423 2934 E-mail: kelsey.nemeth@whaler.com Website: www.brunswickcgp.com CEO/President: Huw Bower Number

Update to Fire Damage to Australian Patrol Boat

Armidale Class Patrol Boat HMAS Bundaberg suffered significant damage due to a fire which occurred on Monday, August 11, 2014 in Brisbane. The boat was undergoing

 
 
Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1308 sec (8 req/sec)