Business · Markets · 1 hr ago
Hanwha Life shares fall on forecast of a third-quarter loss
Hanwha Life shares fell nearly 7% in South Korea on Oct.
21 morning.
The drop followed an analyst forecast that the insurer would swing to a third-quarter loss.
The company is also facing concern because sales of its main whole-life insurance product have been suspended.
Investors are uncertain about the company's future earnings and dividend.
These concerns could weigh on confidence in the insurer's financial outlook.
The analyst forecast is an expectation, and the available information does not say what the company's results will be.
Hanwha Life shares fell in early trading after analysts forecast the insurer would post a third-quarter loss.
The decline came alongside concerns about the suspension of sales of a key whole-life insurance product and uncertainty over dividends.
At 9:41 a.m. on October 21, the shares were down 320 won, or 6.91%, at 4,310 won.
iM Securities lowered its price target for Hanwha Life, though the article’s text does not give the revised target.
- Who
- Hanwha Life and its shareholders.
- What
- Hanwha Life shares fell in early trading.
- When
- October 21, at 9:41 a.m.
- Where
- The Korea Exchange’s securities market.
- Why
- Analysts forecast a third-quarter loss. Concerns also included a key product’s sales suspension and uncertainty over dividends.
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- Share price
- 4,310 won at 9:41 a.m. on October 21
- Daily change
- Down 320 won, or 6.91%
- Forecast
- Analysts expected a third-quarter loss
- Analyst firm
- iM Securities lowered its price target; the revised target was not stated in the article text
- Product concern
- Sales of a key whole-life insurance product were suspended