On the 2nd in the morning, Lotte Tour Development Co. shares are up more than 5%. That came as brokerage analyses said the company will deliver an earnings surprise in the fourth quarter, beating market expectations.
As of 9:17 a.m. that day, Lotte Tour Development Co. was trading at 20,750 won, up 1,040 won (5.28%) from the previous session on the Korea Exchange main board.
Lee Hyeon-ji, a researcher at Eugene Investment & Securities, said, "November casino net sales were 51.4 billion won, up 96.9% from a year earlier," and noted, "Starting in September, it has posted a remarkable performance of more than 50 billion won in casino net sales for three consecutive months."
She added, "Operating profit for the fourth quarter (October–December) is estimated at 51.4 billion won, up 2,274.4% from a year earlier," and said, "It will prove its strengthened earnings power and post results that significantly exceed market expectations."