Kasikorn Securities (Kasikorn Securities) collects the net profits of Thai listed companies. (Company) for the third quarter of 2022 grew 11% from the second quarter (QoQ), but fell 37.9% compared to the same period last year (YoY).
For 197 stocks under analysis, Kasikorn Securities reported total profit for the third quarter of 2022 at 187 billion baht, up 11% QoQ, but down 37.9% YoY and above market expectation of 3%.
Strong growth came from the Agriculture, Food, Agriculture, Food, Contractors, Energy, Hospitals, Media, Packaging, Housing, Transport, Tourism sectors. and utilities, energy, hospitals, media, packaging, housing, transport, tourism and utilities
The business groups that reported lower than expected profits in the third quarter of 2022 were building contractors. electronics Infrastructure Fund and personal products We expect to see earnings revisions in 2022 for the agriculture, food, hospital and packaging sectors. After announcing the results for the third quarter of 2022, because profits in the first 9 months of the year accounted for 75% of the full-year profit forecast that Kasikorn Securities had estimated.
In terms of the profit forecast for the year 2022, the building materials, IT, insurance and media groups are expected to see a decrease because the profit for the first 9 months of this year is less than 75% of the full year profit forecast. of weak performance for the first 9 months of 2022
Kasikorn Securities found good growth in stocks with profits in the first 9 months (BE8, BGC, DUSIT, EPG, HENG, HMPRO, JMT and MEGA). Analysts have upgraded their recommendation to “Buy”.
Meanwhile, downgrading stocks with disappointing nine-month earnings (MICRO, PTTGC, PYLON, RBF, RCL, SAWAD, SPGC, THCOM and TOA) to “Hold” or “Sell” 2022-2023 market earnings per share (EPS) has to revise up 1%/0.5% to 104.5/109.37 respectively over the past two months during the 3Q2022 earnings announcement.
Business group forecast in 4Q/2022 Kasikorn Securities expects reopening stocks (tourism, transportation, media, oil, retail, banking and finance) to grow strongly in Q4/2022, QoQ and YoY, driven by the High season for tourism increase tourists in low interest rate and measures to stimulate the economy of the government
Anti-commodity stocks, including utilities (GULF, EGCO, GPSC, BGRIM) and construction materials (DCC, TOA), are expected to report solid QoQ 4Q22 earnings growth on lower natural gas prices and a stronger baht currency per US dollar
However, the agricultural sector (CPF, GFPT and STA) is expected to report Q4/2022 earnings which will decline QoQ and YoY due to lower agricultural prices. The Hospitals and Real Estate sector should report weak 4Q22 YoY profit growth from a high base in 3Q21 Acquisition of service users
Kasikorn Securities expects stocks to report strong QoQ and YoY earnings growth in 4Q22 and 2023 (more than 15% profit growth) and alongside Kasikorn Securities’ target price (> 10%) outperform the market . The best stocks recommended by Kasikorn Securities are SNNP, PTG, CRC, PLANB, EGCO, GPSC, HENG and BE8.
