DB Securities keeps KRW 110,000 target for Hanwha Ocean stock

Published on 10/25/2026 at 01:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter operating profit is forecast at KRW 509 billion for Hanwha Ocean stock. Revenue is seen at KRW 3.326 trillion, down 38.9 percent quarter on quarter.

Analyst view and earnings outlook

DB Securities kept a KRW 110,000 target on October 16, 2026.
Third-quarter operating profit is forecast at KRW 509 billion, up 75.6 percent year over year.
Hanwha Ocean closed at KRW 55,300 on October 23, 2026, on the Korea Exchange.

Hanwha Ocean, KR7042660001, Illustration mit AI erstellt.

Hanwha Ocean (KR7042660001) is entering its third-quarter reporting date with DB Securities maintaining a KRW 110,000 target and Buy rating on October 16, 2026. The brokerage forecast operating profit of KRW 509 billion and revenue of KRW 3.326 trillion for the third quarter, while warning that fewer production days could pressure the near-term result.

Target stays at KRW 110,000

According to The Asia Business Daily, DB Securities expects third-quarter revenue to rise 10.0 percent from the same period a year earlier, while operating profit is projected to increase 75.6 percent. The quarterly comparison is weaker, however: revenue is forecast to fall 38.9 percent and operating profit to drop 30.9 percent from the second quarter.

The brokerage linked the softer quarter to nine fewer working days, a weaker vessel mix and exchange-rate pressure. Its forecast puts the merchant ship division's operating margin at 17.3 percent in the third quarter, down from 22.7 percent in the second quarter.

What could lift earnings?

Special-purpose vessels are the strategic counterweight to the expected quarterly slowdown. DB Securities expects Hanwha Ocean's naval business and its U.S. shipyard presence to support future order opportunities, while offshore work could add another source of contract growth. The report identified a potential FPSO order for Namibia's Venus project, valued at USD 3 billion, as a possible 2026 opportunity.

Three target changes in October

On October 15, 2026, IBK Investment & Securities retained a KRW 120,000 target and forecast third-quarter revenue of KRW 3.4314 trillion, up 13.5 percent year over year, according to E-Daily. On October 16, 2026, DB Securities kept its KRW 110,000 target. On October 19, 2026, Kiwoom Securities set a KRW 119,000 target and forecast third-quarter operating profit of KRW 505.3 billion, as reported by Aju Press.

Next reporting date

Hanwha Ocean's next reporting date is October 27, 2026, according to Maochaedung. That release will test whether the higher-priced vessel mix can offset fewer production days and the pressure on special-purpose operations.

KRX close frames the setup

Hanwha Ocean closed at KRW 55,300 on the Korea Exchange on October 23, 2026. Its market capitalization was KRW 16.9 trillion, and its 52-week range was KRW 53,500 to KRW 154,800 as of that date. The figures place the upcoming earnings report against a wide valuation reset in the Korean shipbuilding sector.