Eugene Securities forecasted on the 23rd that JUNJIN Construction Robot, a manufacturer of concrete pump cars (CPC), would see a boost in overseas sales as global reconstruction projects gain momentum. Eugene Securities maintained its investment rating of 'Buy' on JUNJIN Construction Robot and raised its target price from 55,000 won to 61,000 won.
Park Jong-seon, an analyst at Eugene Securities, estimated that JUNJIN Construction Robot recorded revenue of 53.7 billion won and an operating profit of 10.4 billion won in the second quarter (April to June) of this year. This represents increases of 11% and 8.7%, respectively, compared to the same period last year.
The analyst noted, "The domestic CPC market share rose to 59% by the end of March, and as it increased to 27.5% in the North American market by the end of last year, we expect continued growth in performance," adding, "Revenue from the subsidiary MTRL, acquired last November, will also start to be reflected from the second quarter."
The analyst viewed that with the second term of the Donald Trump administration focusing on boosting the economy through construction and energy infrastructure, JUNJIN Construction Robot could achieve stable performance.
Additionally, as JUNJIN Construction Robot participated in reconstruction projects in Turkey, it is expected that the company can significantly increase overseas sales through global reconstruction efforts following the war, large-scale earthquakes, and widespread wildfire damage.
The analyst positively evaluated JUNJIN Construction Robot's consistent shareholder return policies. He explained, "JUNJIN Construction Robot has maintained a dividend payout ratio of over 50% over the last three years, and in 2024, it will have burned 5% of the total issued shares."